Definition - What does Non-Fixed UIT mean?
Non-Fixed UIT is a type of UIT that allows changes in the portfolio and traditionally invest in mutual fund share.
Testopedia explains Non-Fixed UIT
Non-Fixed UITs will purchase mutual fund shares and hold the mutual fund shares in the UIT. This is unlike a fixed UIT that purchases bonds and holds the bonds until maturity. Non fixed UITs may also be known as contractual plans.