unittrust
nounUK /ˈjuːnɪt trʌst/
US /ˈjuːnɪt trʌst/
A unit trust is a way for many people to put their money together so experts can invest it for them.
My parents put some savings into a unit trust to help pay for my college.
RELATED WORDS
OTHER MEANINGS
2. A type of fund where investors buy units that represent a share of a diversified portfolio.
The unit trust spread the risk by investing in many different companies.
3. A financial product managed by a professional company that pools money from many small investors.
She chose a unit trust because she did not want to pick stocks herself.
4. An investment vehicle whose value is based on the total value of the assets it holds.
The unit trust's price went up as the stock market rose.