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Glossary of Important Financial Terms

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Term Definition
Unit Trust (also known as Mutual Fund)

Unit trusts are investment funds which the general public can subscribe to. Each unit trust generally has a specific geographic (e.g. Europe or Asia), industry (e.g. High-Tech) or market (e.g. emerging markets) focus. A unit-trust is open-ended, meaning that new trust units can be continually be issued to new investors who bring money into the fund. The motivation behind unit trusts is that through collective investment, investors can diversify their risks and get better returns via servicees of a professional fund manager. Unit trusts usually carry an initial sales charge and an annual management fee. Occasionally, peformance-linked fees are are imposed.

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