CNAE 64.3—Collective investment activities, funds and similar financial entities

Where 64.3 sits

1. L Financial and Insurance Activities
2. 64 Financial services, except insurance and pension funds
3. 64.3 Collective investment activities, funds and similar financial entities

Contains 2 narrower codes

• 64.31 Monetary and non-monetary investment fund activities
• 64.32 Trust, asset and agency account activities

What 64.3 includes

• This group includes legal entities organised to pool securities or other financial assets, without managing or administrating them, on behalf of shareholders or beneficiaries. The portfolios are customised to achieve specific investment characteristics (for example, diversification, risk, rate of return, price volatility). These entities earn interest, dividends and other property income, but have little or no employment and no revenue from the sale of services.

What 64.3 excludes

• Activities of entities that earn revenue from the sale of goods or services. These types of entities are therefore classified according to their principal activity in other parts of nace (like in division 66 for fund management, division 68 for rental and operating of real estate, or in division 77 for rental and leasing of ships or airplanes)
• Carrying out securitisation transactions by issuing of financial instruments (see 64.92)
• Securitisation transactions of assets other than loans by issuing financial instruments (see 64.99)
• Trust, estate and agency accounts that earn revenue from the sale of goods or services (see relevant nace classes according to their principal activity)

64.3 in other systems