Individuals seeking investment opportunities have many options from which to choose. In general, investors place their wealth with an investment company. There are three basic types of investment companies- mutual funds, closed-end funds, and unit investment trusts. Each provides opportunities for investing income. A mutual company is defined as a company the collects money from several investors and in turn invests the money in securities such as stocks and bonds. A closed-end fund is unique in that the company's shares are not continuously for sale, but sold to the public for an initial period and then later sold only on a secondary market. A unit investment trust is more commonly known as a UIT. A UIT generally has a static investment portfolio, which allows investors to know with certainty in what stocks and bonds they are investing.