Term trust

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Term trust

A closed-end fund that has a fixed termination or maturity date.

Term Trust

A unit investment trust with a maturity date. That is, a term trust is an unmanaged portfolio of securities that an investor may buy. At the maturity date, all shares in the term trust are redeemed, and shareholders are entitled to the profits (or must suffer the losses) that the portfolio has achieved over its life. It is a type of closed-end investment company.
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Term trusts are closed-end funds that seek to return a fixed amount to shareholders on a fixed date and then terminate.