6432 Activities of trust, estate and agency accounts

This subcategory includes:

• services of trust, estate and agency accounts, i.e. 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 (e.g. diversification, risk, rate of return, price volatility). These legal entities earn interest, dividends and other property income but have little or no employment and no revenue from the sale of services.

This subcategory also includes:

• services of shareholding companies, not owning controlling levels of equity
• venture capital companies where the only financing is by shares and no fee is received

This subcategory excludes:

• services of raising funds by issuing shares or units and acting as collective investment schemes, see 64.31.00