Whether your goal is long-term growth or current income, a Unit Investment Trust (UIT) may offer you a way to pursue your investment needs. A UIT is a trust that holds a fixed portfolio of securities that are offered in "unit" increments. Investors receive a share of the trust's earned income, if any, and their share of the holdings at the trust's maturity.

Unlike a mutual fund, a UIT is created for a specific length of time and is a fixed portfolio, meaning that the UIT's securities will not be sold or new ones bought, except in certain limited situations.

How a UIT Is Created
Based on market environment and the trust's investment objective, the UIT sponsor selects the duration and the portfolio holdings for each UIT.

Each trust is designed to meet a stated investment goal, such as growth or income. Once the securities are selected, they are held until the Trust is terminated and proceeds are distributed to investors. While each trust has a fixed duration or term, investors may redeem their holdings prior to maturity.¹

A UIT can be attractive to individual investors for several reasons:

• You gain access to a diversified portfolio of securities through a single investment
• They employ a buy-and-hold strategy for a fixed time period judged appropriate for each particular trust
• Investors always know what they own
• UIT investors may sell their units anytime. Even in the absence of a secondary market, trusts are required by law to buy back outstanding units at their net asset value (NAV), which is based on the current market value of the underlying securities. Please note that this redemption price may be higher or lower than the initial investment price and redemption periods may vary depending on the terms of the individual trust.
• Low administrative costs

Risks and Considerations
Unit Investment Trusts are not actively managed. Therefore, stocks in the Trust will not be sold to take advantage of various market conditions. The Trust may continue to purchase or hold stocks even though their market value and dividend yields may have changed. It is also possible that securities in the trust will depreciate, and that the trust may not achieve its intended objective. In addition, each trust is subject to specific risks, which vary depending on the Trust's investment objectives and portfolio composition.





Unit Investment Trusts are sold only by prospectus.

Investors should consider the investment objectives, risks, charges and expenses associated with this investment, and should carefully review the prospectus, containing this and other information, before investing or sending money.

If you are considering investing in a UIT, please contact your Financial Advisor for a copy of the prospectus.


¹ For trusts with deferred sales charges, investors may be responsible for payment of the remaining deferred sales charges if they choose to sell their holdings prior to the trust's maturity.