Activities of trust, estate and agency accounts

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, e.g. diversification, risk, rate of return and 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. This class includes: - trusts, estates or agency accounts, administered on behalf of the beneficiaries under the terms of a trust agreement, will or agency agreement - activities of trusts, estates and similar financial entities - activities of companies holding financial assets for individuals and families (family trusts) This class also includes: - - activities of shareholdings companies, not owning controlling levels of equity - venture companies where the only financing is by shares and no fee is received

This class excludes: - raising funds by issuing shares or units and acting as collective investment schemes, see 6431 and 6432 - carrying out securitisation transactions by issuing of financial instrument, see 6494 - trust, estate and agency accounts, that earn revenue from the sale of goods or services, see ISIC class according to their principal activity