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Widely Held Fixed Investment Trust - WHFIT

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Dictionary Says

Definition of 'Widely Held Fixed Investment Trust - WHFIT'

A fixed investment trust that is held by at least one third party, or middleman, rather than the owner of the trust. A widely held fixed investment trust (WHFIT) is set up by an investor or group of investors who create a portfolio of investments that are generally low risk/return. The investors then sell shares of the trust to different individuals. Holders of the trust are paid dividends and interest at regular intervals.
Investopedia Says

Investopedia explains 'Widely Held Fixed Investment Trust - WHFIT'

The 'middleman' refers to a holder of a trust that is holding the trust on behalf of someone else. The middleman can also be the person that acts as an intermediary for another person's account. A broker is an example of a middleman.

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