What does Approved Investment Trust mean?

Approved Investment Trust meaning in Finance Dictionary

An investment trust that satisfies specific circumstances set by the taxation authorities and appropriately is exempt from tax on capital gains made on earnings from product sales of opportunities within its portfolio.This ability of financial investment trusts to trade in and out of shares gives them an advantage over personal people whom, in considering whether to sell stocks, tend to be bound to own one attention on money gains income tax liability which they might incur.