Activities of trusts, estates and agency accounts

Title: Activities of trusts, assets and fiduciary accounts (estate and agency accounts) Comprises the activity of legal entities that do not operate as investment companies collective, organized to bring together securities, assets and other financial assets, without management, on behalf of shareholders or beneficiaries. Portfolios are customized to target specific investment characteristics, e.g. diversification, risk, return rate profitability, price volatility. These entities receive interest, dividends and other property income but have little or no employment and no income from the sale of services. Includes activities of trusts, estates and fiduciary accounts, administered on behalf of multiple beneficiaries under the terms of a trust agreement or will. Includes activities of joint-stock companies, which do not have levels of control over capital and venture capital companies in which the only financing is through shares and in which no remuneration is received. Does not include:  Obtaining funds through the issuance of shares or participation units and acting as collective investment undertakings (64310);