Category Archive 'uitfs'

Tighter rules on UITFs – finally!

- Investing, uitfs -

Within the industry of pooled investment funds, there’s competition between mutual funds and unit investment trust funds (UITFs) for investors’ money.

UITFs have one very big advantage. Banks have access to deposit accounts. Depositors often get calls from a bank branch officer and offers to invest in a UITF. Problem is, back in 2005 when UITFs were first offered, very few of those bank officers knew what they were offering.

“Hello ma’am. I notice that you have such and such amount in your deposit account with us. Would you like to put this in an investment instrument that gives such and such return?” was a common opening line among bank officers.

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By Salve
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