UITs Draw $1.13B in May Assets

June 29, 2001 (PLANSPONSOR.com) - Unit investment trusts attracted $1.13 billion in assets in May, a dramatic decrease from the $12.5 billion deposited a year ago, according to figures from the Investment Company Institute (ICI).

Unit investment trusts are investment companies that purchase fixed portfolios of selected stocks or bonds.

Last month deposits increased by a comparable $1.11 billion, though that was less than half the level of a year ago, according to ICI (see UIT Deposits Off Sharply From Year Ago ).


  • Deposits to equity trusts totaled $942.7 million in May, compared with $12.43 billion in May 2000
  • Tax-free bond trusts issued shares in May with deposits of $160.1 million compared with $60.5 million in May 2000
  • Shares issued in May by taxable bond trusts reached $27.2 million compared with $10.5 million in May 2000
  • May saw 31 new tax-free bond trusts issuing shares, no new taxable bond trusts, and 45 new equity trusts.

Most commonly offered in May were long-term bond trusts having an average weighted maturity of more than 15 years with $164.3 million in shareholder deposits.