Investing August 22, 2001

July UIT Deposits Continue Climb

August 22, 2001 (PLANSPONSOR.com) - Deposits to the nation's unit investment trusts rose to $7.24 billion in July, the second straight month-over-month increase and a significant improvement over July 2000, according to the Investment Company Institute (ICI).
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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.

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