A UIT is a fixed portfolio of professionally selected securities.
Investors purchase units of a trust which represent an undivided ownership in the entire portfolio.
The portfolio of a unit investment trust is fixed at the date of deposit, which gives the investor knowledge of exactly what is initially in the portfolio, when the trust matures, and the expected income that the trust is likely to generate. For example an Internet Trust which invests in 20-25 leading Internet companies, for investors who wish to participate in the Internet industry and do not wish to assume the risk of investing in only one company. These trusts invest in portfolios of companies that represent a specific trend in the marketplace. An example of this would be a trust including companies positioned to take advantage of the opportunities the new millennium has to offer. To contact a First Union Securities Financial Advisor for additional information, please click here to locate a First Union Securities office near you.