Very general funds, including most markets and types of share. Very specific funds that concentrate on a particular market sector or type of share. Some unit trusts aim for a high income. Some trusts look for above average capital growth. The many so-called 'balanced' funds look for a mix of both capital growth and income.
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Unit trusts form the core of many other financial products, including many ISAs, pensions and life assurance products.

Unlike investment trusts, unit trusts are open-ended. Units can be created when investors invest and liquidated when investors dispose of their holdings. There is a direct relationship between unit values and the underlying investments.

Taxation
All gains made by a Unit Trust Holding are subject to Capital Gains Tax (CGT) if the gains are greater than the annual CGT allowance of the individual. There is no income tax payable on growth, however, income from a trust is normally treated as unearned income and subject to tax at your normal rate. Individual fund Key Features documentation provide more information on this topic. The taxation of individual funds within an OEIC is dependant on the investment area and this is covered within the Key Features documentation of the fund.