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Which of the following statements is TRUE about Unit Investment Trusts. 1. The key aim of Unit Investment Trust (UIT) is to produce an income

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Which of the following statements is TRUE about Unit Investment Trusts. 1. The key aim of Unit Investment Trust (UIT) is to produce an income flow to the UIT portfolio which is then passed on (after fees) to UIT shareholders II. A Unit Investment Trust (UIT) will have a fixed termination date (i.e., a single maturity date when the UIT's portfolio will be liquidated and the UIT closed). III. UITS issue unit certificates (UCS) which are sold and redeemed only by the issuing UIT. IV. After the UIT is set up by the sponsor (usually a brokerage house or bond underwriter) it is turned over to a trustee who then holds the portfolio until the securities are redeemed by the securities' issuers. V. A Real Estote Investment Trust (REIT) is a type of UIT that invests in real estate and real estate related securities Il and V L 14, and in 1.1 IV and V O, 1, m, IV, and V III, and V

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