Investment Vehicles第 91 / 100 题
A unit investment trust (UIT):
a.Is actively managed with frequent trading
b.Continuously issues new shares like an open-end fund
c.Has no defined termination date
d.Holds a fixed portfolio of securities and has a set termination date
解析
A unit investment trust holds a fixed, largely unmanaged portfolio and has a predetermined termination date when it dissolves and returns principal. It does not actively trade or continuously issue shares like an open-end fund. Investors buy redeemable units representing an interest in the fixed portfolio.
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