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Investment trust |
Also found in: Dictionary/thesaurus, Encyclopedia, Wikipedia, Hutchinson | 0.01 sec. |
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Investment trust A closed-end fund regulated by
the Investment Company Act of 1940. These funds have a fixed number of shares
that are traded on the secondary markets,
like corporate stock. The market price may exceed the asset value per share, in which case shares are selling at a premium.
When the market price falls below the (NAV)/share,
shares are selling at a discount. Many
closed-end funds are of a specialized
nature; the portfolio represents a particular
industry or, country. These funds are usually listed on US and foreign
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| ? Mentioned in | ? References in periodicals archive | |
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He is a member of the International Council of Shopping Centers, the National Association of Real Estate Investment Trusts and the National Council of Real Estate Investment Fiduciaries. In short, unit investment trusts (UIT) are securities that are bundled together and then sold in pieces to investors, generally for $1,000 or less. Berkshire Hathaway said it was responding reluctantly to attempts by several money managers to exploit its reputation by creating investment trusts to sell investors fractional units of Berkshire Hathaway stock. |
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