Finanza: Fondi comuni di investimento
| English |
| unit trust |
  |
|
| Part of speech |
Noun phrase
|
| Definition |
trust formed to manage a portfolio of stock exchange securities, in which small investors can buy units. This gives the small investor access to a diversified portfolio of securities, chosen and managed by professional fund managers, who seek either capital gains or high yield, within the parameters of reasonable security.
The trustee, usually a commercial bank, are the legal owners of the securities and responsible for ensuring that the managers keep to the terms of the trust deed.
Prices of unit trusts are quoted daily, the difference between the bid and the offer prices providing a margin for the management costs and the costs of buying and selling on the stock exchange.
|
| Context |
[...] 2. A unit trust shall be authorised only if the competent authorities have approved the management company, the fund rules and the choice of depositary. An investment company shall be authorised only if the competent authorities have approved both its instruments of incorporation and the choice of depositary. [...]
|
| Context source |
EU-85-611
|
| Synonym |
unit trust scheme
|
| de |
Investmentfonds, unit trust
|
| it |
fondo comune di investimento, unit trust
|
|
