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Investing June 21, 2001
UIT Deposits Off Sharply From Year Ago
June 21, 2001 (PLANSPONSOR.com) - Unit investment
trusts, investment companies that purchase fixed portfolios
of selected stocks or bonds, increased their deposits through
offerings in April of $1.11 billion, less than half the level
of a year ago, according to the Investment Company Institute
(ICI).
Reported by Nevin E. Adams
That compares with $2.59 billion in April 2000,
according to the ICI.
Deposits to equity trusts totaled $972.9 million in April,
compared with $2.54 billion in April 2000. Tax-free
bond trusts issued shares in April with deposits of $112.5
million compared with $41.9 million in April 2000, and
shares issued in April by taxable bond trusts reached $27.9
million compared with $7.5 million in April 2000.
There were 24 new tax-free bond trusts issuing shares in April, five new taxable bond trusts, and 50 new equity trusts.
At year-end, there were 10,071 unit investment trusts with a market value of $88.75 billion.