UK SIC 64.32—Activities of open-ended non-money market funds

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 open-ended non-money market funds

Contains 7 narrower codes

• 64.321 Activities of open-ended property funds
• 64.322 Activities of open-ended equity funds
• 64.323 Activities of open-ended fixed income funds - excluding private credit funds
• 64.324 Activities of open-ended fixed income funds - private credit funds
• 64.325 Activities of open-ended mixed or balanced funds
• 64.326 Activities of open-ended hedge funds
• 64.327 Activities of other open-ended funds

What 64.32 includes

• This class includes activities of non-money market funds, i.e., collective investment schemes that raise funds by issuing shares or units to the public, of which proceeds are invested primarily in financial assets, other than short-term assets, and in non-financial assets (usually real estate). Their units (or shares) are not substitutes for deposits.
• An open-ended fund allows for issuance and redemption of shares or units on a flexible basis, making the investment liquid. Investors typically purchase shares or units in the fund directly from the fund itself, rather than from existing shareholders. The fund issues or redeems shares or units in response to investor demand. Share or unit prices bear a close relationship with net assets in the fund.

What 64.32 excludes

• Activities of money market funds, see 64.31

64.32 in other systems