John Nuveen & Co. has introduced two unit investment trusts.
One is based on the Dow Jones Internet index, and the other on the Dow Jones global titans index, which tracks global blue-chip companies.
Both products are open to investors for six months, and both are available through bank brokerages that sell Nuveen products. They became available Aug. 25.
Unit trusts are pooled accounts that invest in a specific number of securities and have a specific maturity date. The Internet UIT holds shares of 40 companies that generate most of their annual sales or revenues from the Internet.
The Titans UIT holds stocks of 50 well-known and well-established companies such as General Electric, Microsoft, and Intel.
Both unit trusts have five-year terms. Nuveen, based in Chicago, offers about 40 unit trusts. -- Stephen Garmhausen