UIT Deposits Off Sharply From Year Ago

June 21, 2001 (PLANSPONSOR.com) - Unit investment trusts, investment companies that purchase fixed portfolios of selected stocks or bonds, increased their deposits through offerings in April of $1.11 billion, less than half the level of a year ago, according to the Investment Company Institute (ICI).

That compares with $2.59 billion in April 2000, according to the ICI.
Deposits to equity trusts totaled $972.9 million in April, compared with $2.54 billion in April 2000.  Tax-free bond trusts issued shares in April with deposits of $112.5 million compared with $41.9 million in April 2000, and shares issued in April by taxable bond trusts reached $27.9 million compared with $7.5 million in April 2000.

There were 24 new tax-free bond trusts issuing shares in April, five new taxable bond trusts, and 50 new equity trusts.

At year-end, there were 10,071 unit investment trusts with a market value of $88.75 billion.