NIC 643—Activities of trusts, funds and similar financial entities

Where 643 sits

1. L Financial and insurance activities
2. 64 Financial service activities, except insurance and pension funding
3. 643 Activities of trusts, funds and similar financial entities

Contains 3 narrower codes

• 6431 Activities of money market funds
• 6432 Activities of non- money market funds
• 6433 Activities of trust, estate and agency accounts

What 643 includes

• This group includes legal entities organized to pool securities or other financial assets, without managing, on behalf of shareholders or beneficiaries. The portfolios are customized to achieve specific investment characteristics, such as 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 open-end investment funds
• Closed-end investment funds
• Trusts, estates or agency accounts, administered on behalf of the beneficiaries under the terms of a trust agreement, will or agency agreement
• Unit investment trust funds
• Funds and trusts that earn revenue from the sale of goods or services are therefore classified according to their principal activity in other parts of ISIC (like in division 66 for fund management, division 68 for renting and operating of real estate or in division 77 for renting and leasing of ships or airplanes).
• This group includes financial service activities except insurance and pension funding activities, other than those conducted by monetary institutions, holding companies and financing conduits, and trusts, funds and similar entities.

What 643 excludes

• Insurance and pension funding activities, see division 65

643 in other systems