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InvestHub.com's
Finance Dictionary and Glossary of Investment Terms

Discretionary trust  

Definition 1.

n the context of mutual funds, refers to a mutual fund or unit trust whose management decides on the best way to use the assets without restriction to a specific type of security.In the context of trusts, refers to a personal trust in which a trustee has the power of decision as to how much income or principal each beneficiary receives.
 
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