what does nondiscretionary trust mean?

NONDISCRETIONARY TRUST as NOUN

Meaning
- an investment trust that can buy only those securities listed when the trust was organized
Synonym(s)
- fixed investment trust (what does fixed investment trust mean?)
Hypernyms(s) nondiscretionary trust is a kind of… Example: animal is a hypernym of mammal, plant is a hypernym of flower
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