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.
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Notes
- 1.
2012 Investment Company Fact Book: A Review of Trends and Activity in the U.S. Investment Company Industry. Washington, DC: Investment Company Institute (2012). Available at www.ici.org/pdf/2012_factbook.pdf.
- 2.
2012 Investment Company Fact Book: A Review of Trends and Activity in the U.S. Investment Company Industry. Washington, DC: Investment Company Institute (2012). Available at www.ici.org/pdf/2012_factbook.pdf.
- 3.
2012 Investment Company Fact Book: A Review of Trends and Activity in the U.S. Investment Company Industry. Washington, DC: Investment Company Institute (2012). Available at www.ici.org/pdf/2012_factbook.pdf.
- 4.
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© 2013 Keith R. Fevurly
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Fevurly, K.R. (2013). Unit Investment Trusts. In: The Handbook of Professionally Managed Assets. Apress, Berkeley, CA. https://doi.org/10.1007/978-1-4302-6020-2_7
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DOI: https://doi.org/10.1007/978-1-4302-6020-2_7
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Publisher Name: Apress, Berkeley, CA
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