HKSI Paper 12 Practice Questions - HKSI Licensing Examination Paper 12 - Asset Management Exam

Which feature most clearly distinguishes a unit trust from a mutual fund corporation?

A unit trust is constituted by a trust deed while a mutual fund corporation is a company with shareholders A unit trust cannot invest in equities A mutual fund corporation has no manager A unit trust must always be closed-ended

Correct Answer:

A unit trust is constituted by a trust deed while a mutual fund corporation is a company with shareholders

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