Municipal Investment Trust

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Municipal Investment Trust (MIT)

A unit investment trust that buys municipal bonds and usually holds them until maturity, passing the bond income on to shareholders, usually tax-free.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Municipal Investment Trust

A unit investment trust that invests primarily or exclusively in municipal bonds. The MIT buys these bonds and holds them until maturity, passing the coupons and principal on to unit holders.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

municipal investment trust (MIT)

A unit investment trust that holds a portfolio of municipal bonds. Interest and principal received by the trust are passed to the trust's owners. Payments are generally free of federal income taxes and may be free of some or all state income taxes.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
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