Assets of the main investment pool are aggregated together and valued daily, striking a daily unit value (NAV) for the fund. Each sub-account then holds units of that larger fund. A unitized fund acts like a mutual fund but is not legally registered; no prospectus, no board of directors, etc.

What does it mean if a fund is unitized?

A unitized fund is a type of investment fund structure that uses pooled money to invest with individually reported unit values for investors. Assets in the pool are managed to a specific objective, often with concentration in one stock. ... Their unit price can be generally compared to the price of the company's stock.

What is a non unitized fund?

These would be assets that belong to a specific fund but are not part of the investment pool. For example: real estate gifted to a specific fund. The value is added to the fund, but does not increase the fund's share of units. ... Non-unitized assets are included in the total market value of the pool.