Trusts, Funding, and Similar Financial Entities

This subgroup includes legal entities established to pool shares or securities or other financial assets, without management, on behalf of shareholders or beneficiaries. Their portfolios are adjusted to obtain specific investment characteristics, such as diversification, risk, return levels, and conditions vulnerable to price changes. These entities earn interest, dividends, and other property income but have little or no employees and generate no income from the sale of services. This subgroup includes: - Open-end investment financing. - Closed-end investment financing. - Trusts, estates, or intermediary accounts, managed on behalf of beneficiaries under trust agreements, wills, or agency agreements. - Investment trust financing units. This subgroup does not include: - Financing and trusts that earn income from the sale of goods or services, see the relevant KBLI subgroup based on their primary activity. - Holding company activities, see 6420. - Pension funds, see 653. - Financing management, see 663.

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