Mutual funds and unit investment trust funds (UITFs) are similar as both instruments pool together money from numerous investors to build a portfolio of investment securities. Both are operated similarly in terms of accounting standards, record keeping, and safekeeping of investments. 

Mutual funds are regulated by the SEC. They are treated as corporations with the fund investors as their shareholders. 

UITFs are bank products regulated by the Bangko Sentral ng Pilipinas (BSP). Participation in UITFs is not represented by shares but through the purchase of units, thus investors do not have the same privileges given to shareholders of mutual funds. Investors must note that mutual funds and UITFs may also differ in terms of costs as well as regulations imposed by their respective governing bodies. 

Below is a summary of the difference between Mutual Funds and UITFs: