Unit investment trusts, or UITs, are investment companies that purchase fixed portfolios of selected stocks or bonds.
June 2001 deposits came in at $6.05 billion (see June UIT Deposits Rebound ) while deposits a year ago were $5.73 billion.
July Equity Trust Totals
Deposits to equity trusts totaled $7.07 billion in July, compared with $5.54 billion in July 2000.
Tax-free bond trusts issued shares in July with deposits of $145 million, compared with $63.4 million in July 2000. Shares issued in July by taxable bond trusts reached $30.6 million, compared with $124.6 million in July 2000.
There were 23 new tax-free bond trusts issuing shares in July, no new taxable bond trusts, and 61 new equity trusts.