UITs Total $7.44 Bn in March

May 9, 2001 (PLANSPONSOR.com) - Unit investment trusts totaled $7.44 billion in March, compared to $5.1 recorded in the same period last year, according to figures from the Investment Company Institute (ICI).

In addition:

  • Deposits to equity trusts came to $7.34 billion over the month, in comparison to $5 billion in March 2000.
  • Tax-free bond trusts issued shares with deposits of $67.3 million compared with $83.2 million in the same period last year.
  • Shares issued in March by taxable bond trusts reached $26.5 million compared with $11.5 million in the comparable month in 2000.

March also saw 11 new tax-free bond trusts, one new taxable bond trust and 52 new equity trusts issuing shares.

The most commonly offered bond in March, with $67.2 million in shareholder deposits, were long-term bond trusts with an average weighted maturity of more than 15.