Do Unit Trust Funds or Mutual Funds have any maturity dates like bonds?

Hi all,

I am currently researching about Unit Trust Funds/Mutual Funds. Have a few questions here to ask:
1) Do these UTF/MF have any maturity dates like bonds?
2) I understand that using say S$10k to buy 10 units of a UTF which have NAV of $1000 or buying 1000 units of a UTF which has NAV of $10, you are still investing the same amount. What's the critical difference between these two.
3) If I were to redeem halfway, the amount i will get back is based of NAV at the time of redeem?

Thanks!