Central Bank of the Philippines defines a unit investment trust fund (UITF) as “an open-ended pooled trust fund denominated in pesos or any acceptable currency, which is operated and administered by a trust entity and made available by participation.” Due to an absence of research related to the UITF sector in the Philippines, it is worthwhile to look at the sector more closely from the perspective of the players within the industry as well as from the retail investors’ point of view. The general objective of this research is to assess the status, problems, and prospects of the UITF sector in the Philippines. Specifically, the research sought to assess the supply and demand sides of the sector by examining the market landscape through the industry players and the awareness and perception of the retail investors. Results indicate that the industry is being dominated by three large players, namely, BDO Unibank, Inc., BPI Asset Management and Trust Corporation, and Metropolitan Bank and Trust Company. Furthermore, the money market fund has the largest share in the total Asset-under-Management for both domestic- and foreign-denominated UITF. On the demand side, the major issue was the low awareness of the retail investors, specifically the youth, towards UITF. In order to address the current challenges in the industry, the players must focus on increasing the awareness of retail investors using digital technology and expanding the distribution channel. To address the demand side issues, product differentiation and a better incentive system for UITF marketing personnel were recommended.