Abstract
The number of unit investment trusts (UITs) has decreased by over 55% from 1995 to 2012. In 2012, there were a total of 5,787 UITs with assets of $72 billion—paltry in comparison with assets of over $13 trillion in mutual funds, $1.3 trillion in exchange-traded funds (ETFs), and $265 billion in closed-end funds (CEFs). Yet UITs were formerly among the most important of PMAs and even today are appropriate for some investors—particularly retiree investors.KeywordsMutual FundInitial Public OfferingPortfolio ManagerCorporate BondInvestment CompanyThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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