Fund Basics
Unit Class
Definition
What is Unit Class?
A class of fund units distinguished by fee, currency, income, or access terms.
Example in practice
How This Looks in Practice
A fund offers naira and dollar unit classes.
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Related Terms
Fund Basics
Mutual Fund
A pooled investment vehicle that combines money from many investors into one professionally managed portfolio.
Fund BasicsUnit
A proportional ownership interest in a mutual fund.
Fund BasicsNet Asset Value
The value of a fund's assets minus its liabilities, usually expressed in total and per unit.
Fund TypesMoney Market Fund
A mutual fund that invests mainly in short-term, relatively liquid instruments such as treasury bills and deposits.