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I think you are correct sketckers365. As you know large caps, refers to companies that are among the largest in the country(or world). "Cap" refers to capitalization, meaning the market value of the company.
He could have bought a low cost large cap mutual fund.
So I am guessing the Unit Investment Trust (UIT) ties the stocks in some kind of 13 month maturity date or something.
Sounds like something created by Morgan Stanley.
I am sure with fees and commissions.
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