June 14, 1989
TO: UNIT INVESTMENT TRUST COMMITTEE NO. 25-89
RE: INSTITUTE RESPONDS TO ARTICLE ON MARKETABILITY OF UNIT
TRUST SHARES
__________________________________________________________
Recently, a New York-based financial newsweekly printed an
article that stated that shares of unit investment trusts are not
readily marketable and "have no provision for repurchase by the
sponsor". The Institute submitted a letter which challenged this
assertion. Attached for your information are copies of the
article and the Institute's reply.
Craig S. Tyle
Assistant General Counsel