What are some differences between a unit investment trust and a closed-end fund?
Unit investment trust is unmanaged while closed-end fund is management investment fund. Its portfolios are fixed.
Unit investment trust is classified and regulated as an investment company.
Differences between a unit investment trust and a closed end fund:
Unit investment trust
Closed end fund
1. It is an unmanaged investment fund.
1. It is a managed investment fund.
2. Its portfolios are fixed and do not change due to asset change.
2. The composition of its portfolio may change as deemed fit by its managers.
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