Definitions for unit trust
Random House Webster's College Dictionary
an investment company having a fixed portfolio of securities that are held to maturity, each investor sharing in the profits proportionately.
a type of mutual fund in which an investor must invest a specified amount of money each month or quarter.
Origin of unit trust:
unit investment trust, unit trust(noun)
a regulated investment company consisting of professional managers who issue redeemable securities representing a portfolio of many different securities
"you can invest in a unit investment trust for as little as $1000"