Its like a deposit account but its not. Got my drift?
But what exactly is UITF?
Unit Investment Trust Fund (or UITF) is one form of investment that is available here in the Philippines. It is an open-ended pool of investment that is funded by various investors (you and me). The pooled trust fund is usually denominated in Pesos (the most common) followed by the US Dollar.
In this kind of investment, its the Professional Fund Managers who usually handles the fund. And when we speak of the amount, usually they handle Billions of Pesos which they study the investments thoroughly before investing. And while they are the ones who do the thinking and managing the fund, all you need to do is sit back and relax.
You would notice on various blog posts posting gains from their respective UITF Accounts, please remember the disclaimer that "Past performance doesn't guarantee future results". This means that the gains from your investment for this year is not and will never be the same for next year and for the succeeding years.
The basic requirements in opening a UITF depends on the Bank that you'll be going to (I guess I'll just share it on a different post).
You may also check this Website for more FAQs regarding UITF.
My next question to you is do you know what is the Best UITF Account for you? Stay tuned.
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