WZ 64.32.0—Activities of trust, estate and agency accounts

Where 64.32.0 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
5. 64.32.0 Activities of trust, estate and agency accounts

What 64.32.0 includes

• This subclass comprises legal entities that do not act as collective investment undertakings and are organized to pool securities, estate assets, and other financial assets on behalf of shareholders or beneficiaries, but without managing them. The portfolios are tailored to client needs to meet specific investment criteria (e.g., diversification, risk, return, and price volatility). These entities generate income in the form of interest, dividends, and other investment income, but have few or no employees and no revenue from the sale of services.
• Trust funds, estate assets, and intermediary accounts administered on behalf of multiple beneficiaries under the terms of a trust agreement, will, or agency agreement.
• Activities of companies with ownership interests but no controlling interest
• Venture capital investment companies that are solely financed through shares and do not receive fees

What 64.32.0 excludes

• Activities of trust funds that generate income from the sale of goods and services
• Classification is made according to their main activity in the respective subclass of this classification
• Raising of funds by issuing shares and in the form of undertakings for collective investment, see 64.31.0

64.32.0 in other systems