SNI 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

• 64.320 Activities of trust, estate and agency accounts

What 64.32 includes

• This class includes legal entities, not acting as collective investment schemes, organised to pool securities, estates and other financial assets, without managing, 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.
• Trusts, estates and agency accounts, administered on behalf of multiple beneficiaries under the terms of a trust agreement, will or agency agreement
• Activities of shareholding companies, not owning controlling levels of equity
• Venture capital companies where the only financing is by shares and no fee is received

What 64.32 excludes

• Raising funds by issuing shares or units and acting as collective investment schemes, see 64.31

64.32 in other systems