SBI 64.3—Activities of trusts, funds and similar financial entities

Where 64.3 sits

1. L Financial and insurance activities
2. 64 Financial service activities, except insurance and pension funding
3. 64.3 Activities of trusts, funds and similar financial entities

Contains 2 narrower codes

• 64.31 Activities of money market and non-money market investments funds
• 64.32 Activities of trust, estate and agency accounts

What 64.3 includes

• This group comprises legal entities established to pool securities or other financial assets on behalf of shareholders or beneficiaries without managing them. The portfolios are tailored to achieve specific investment characteristics, e.g. diversification, risk, return, price fluctuations. These entities earn interest, dividends, and other capital income, but have few to no employees and no income from the sale of services.

What 64.3 excludes

• Entities that generate income from the sale of goods or services. These types of entities are therefore classified in other parts of NACE based on their principal activity (for example, in division 66 for fund management, division 68 for the leasing and operation of real estate or division 77 for the rental and leasing of ships or aircraft)
• Carrying out securitisation transactions through the issuance of financing instruments, 6492
• Securitisation transactions of assets other than loans through the issuance of financing instruments, 6499
• Trust and estate accounts and accounts of authorized representatives generating income from the sale of goods or services, NACE class corresponding to the principal activity

64.3 in other systems