Unit Trust:
Unit trusts are collective funds that allow private investors to pool their
money in a single fund, thus spreading their risk across a range of investments,
getting the benefit of professional fund management, and reducing their dealing
costs.
Unit trusts are open-ended in contrast to investment trusts, which are closed
funds. Different trusts have different investment objectives: investing for
income or growth, in small companies or large, and in different geographical
regions.
The values cannot be guaranteed and can go up as well as down.
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