Chapter y Investment Companies v Major types of investment companies Unit investment trust A unit investment trust is an investment company that owns a fixed set of securities for the life of the company, that is the investment company rarely alters the composition of its portfolio over the life of the company. Formation-to form a UIT, a sponsor( often brokerage firm) purchases a specific set of financial asset and deposits them with a trusteeChapter 9 Investment Companies Major types of investment companies – Unit investment trust • A unit investment trust is an investment company that owns a fixed set of securities for the life of the company, that is the investment company rarely alters the composition of its portfolio over the life of the company. • Formation — to form a UIT, a sponsor( often brokerage firm) purchases a specific set of financial asset and deposits them with a trustee