SBI 64.32—Activities of trust, estate and agency accounts

Where 64.32 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
4. 64.32 Activities of trust, estate and agency accounts

Contains 1 narrower code

• 64.32.0 Activities of trust, estate and agency accounts

What 64.32 includes

• This class comprises legal entities that do not act as investment institutions, which are established to pool securities and 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.
• Trust and estate accounts and accounts of authorized representatives managed on behalf of multiple beneficiaries in accordance with the terms of a trust agreement, will, or agency agreement.
• Shareholder companies that do not hold a majority interest
• Venture capital companies where financing takes place exclusively by means of shares and no remuneration is received

What 64.32 excludes

• Raising funds by issuing shares or participations and acting as an investment institution, 6431

64.32 in other systems