Unit investment trusts, or UITs, are investment companies that purchase fixed portfolios of selected stocks or bonds.
A year ago deposits totaled just $2.60 billion in June 2000, according to the ICI. However, a month ago, deposits were just $1.13 billion (see UITs Draw $1.13B in May Assets ).
Deposits to equity trusts totaled $5.89 billion in June, while tax-free bond trusts issued shares in June with total deposits of $125.9 million.
There were 28 new tax-free bond trusts issuing shares in June, 2 new taxable bond trusts, and 33 new equity trusts.