1. Also called fixed investment trust, fixed trust . an investment company that has a fixed portfolio of securities, usually of a single type, such as municipal bonds or corporate bonds, which are held to maturity: each investor receives a share in the amount proportionate to his or her holding.
2. Also called unitrust /yooh"ni trust'/ . an inflexible type of mutual fund in which each investor is obligated to invest a total specified amount in a certain number of shares, payable in equal amounts on a monthly or quarterly basis over an extended period of time.
3. Brit. See mutual fund . Also called unit investment trust (for defs. 1, 2).
[ 1935-40 ]