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English definition of “unit trust”

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unit trust

noun [C]
 
 
FINANCE
in the UK, a fund in which you buy units (= shares). This money is then put into a range of investments, etc., and profits are paid in relation to the number of units that you own: Collective investments such as unit trusts are ideal products for investment on behalf of a child.
→  See also mutual fund
(Definition of unit trust from the Cambridge Business English Dictionary © Cambridge University Press)
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