b'07Key Features Sponsored by banks or trust companies CITs can offer different unit classes with to pool retirement plan assets into a singlevarying fee structures allowing larger plans portfolio that is invested with a specificto benefit from economies of scale.strategy like a mutual fund. Instead of SEC prospectuses, CITs provideMay invest in stocks, bonds, active ordisclosure through participant materials and passive investment vehicles as well as infact sheets made available to plan sponsors.alternative assets. CITs designed for institutional investors mayLower costs compared to mutual funds, include performance-based fee structures.due to streamlined operations and fewer regulatory expenses. Flexible investment mandates, sincethey can be tailored to meet the needsof retirement plan sponsors andinstitutional investors. Restricted availability, as they are generally not accessible to retail brokerage accounts and are limited to qualified retirement plans and institutional investors. Investors hold units in the trust, not shares such as in a mutual fund. Unit values are updated daily or periodically based on net asset value.Mayer Brown|Collective Investment Trusts 25'