North American Industry Classification System - NAICS

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T = Canadian, Mexican, and United States industries are comparable.

Search results for: 52

Number of records found: 89

• 52 Finance and Insurance^T: The Sector as a Whole The Finance and Insurance sector comprises establishments primarily engaged in financial transactions (transactions involving the creation, liquidation, or change in ownership of financial assets) and/or in facilitating financial transactions. Three principal types of activities are identified: 1. Raising funds by taking deposits and/or issuing securities and, in the process, incurring liabilities. Establishments engaged in this activity use raised funds to acquire financial assets by making loans and/or purchasing securities. Putting themselves at risk, they channel funds from lenders to borrowers and transform or repackage the funds with respect to maturity, scale, and risk. This activity is known as financial intermediation. 2. Pooling of risk by underwriting insurance and annuities. Establishments engaged in this activity collect fees, insurance premiums, or annuity considerations; build up reserves; invest those reserves; and make contractual payments. Fees are based on the expected incidence of the insured risk and the expected return on investment. 3. Providing specialized services facilitating or supporting financial intermediation, insurance, and employee benefit programs. In addition, monetary authorities charged with monetary control are included in this sector. The subsectors, industry groups, and industries within the Finance and Insurance sector are defined on the basis of their unique production processes. As with all industries, the production processes are distinguished by their use of specialized human resources and specialized physical capital. In addition, the way in which these establishments acquire and allocate financial capital, their source of funds, and the use of those funds provides a third basis for distinguishing characteristics of the production process. For instance, the production process in raising funds through deposit-taking is different from the process of raising funds in bond or money markets. The process of making loans to individuals also requires different production processes than does the creation of investment pools or the underwriting of securities. Most of the Finance and Insurance subsectors contain one or more industry groups of (1) intermediaries with similar patterns of raising and using funds and (2) establishments engaged in activities that facilitate, or are otherwise related to, that type of financial or insurance intermediation. Industries within this sector are defined in terms of activities for which a production process can be specified, and many of these activities are not exclusive to a particular type of financial institution. To deal with the varied activities taking place within existing financial institutions, the approach is to split these institutions into components performing specialized services. This requires defining the units engaged in providing those services and developing procedures that allow for their delineation. These units are the equivalents for finance and insurance of the establishments defined for other industries. The output of many financial services, as well as the inputs and the processes by which they are combined, cannot be observed at a single location and can only be defined at a higher level of the organizational structure of the enterprise. Additionally, a number of independent activities that represent separate and distinct production processes may take place at a single location belonging to a multilocation financial firm. Activities are more likely to be homogeneous with respect to production characteristics than are locations, at least in financial services. The classification defines activities broadly enough that it can be used both by those classifying by location and by those employing a more top-down approach to the delineation of the establishment. Establishments engaged in activities that facilitate, or are otherwise related to, the various types of intermediation are included in multiple subsectors, rather than in a separate subsector dedicated to services alone, because these services are performed by intermediaries, as well as by specialist establishments, and the extent to which the activity of the intermediaries can be separately identified is not clear. Financial industries are extensive users of electronic means for facilitating the verification of financial balances, authorizing transactions, transferring funds to and from transactors' accounts, notifying banks (or credit card issuers) of the individual transactions, and providing daily summaries. Since these transaction processing activities are integral to the production of finance and insurance services, establishments that principally provide a financial transaction processing service are classified in this sector, rather than in the data processing industry in the Information sector. Legal entities that hold portfolios of assets on behalf of others are significant and data on them are required for a variety of purposes. Thus for NAICS, these funds, trusts, and other financial vehicles are the fifth subsector of the Finance and Insurance sector. These entities earn interest, dividends, and other property income, but have little or no employment and no revenue from the sale of services. Separate establishments and employees devoted to the management of funds are classified in Industry Group 5239, Other Financial Investment Activities.
• 521 Monetary Authorities-Central Bank^T: The Monetary Authorities-Central Bank subsector groups establishments that engage in performing central banking functions, such as issuing currency, managing the Nation's money supply and international reserves, holding deposits that represent the reserves of other banks and other central banks, and acting as a fiscal agent for the central government.
• 5211 Monetary Authorities-Central Bank^T:
• 52111 Monetary Authorities-Central Bank^T: See industry description for 521110.
• 521110 Monetary Authorities-Central Bank: This industry comprises establishments primarily engaged in performing central banking functions, such as issuing currency, managing the Nation's money supply and international reserves, holding deposits that represent the reserves of other banks and other central banks, and acting as a fiscal agent for the central government. Cross-References.
• 522 Credit Intermediation and Related Activities^T: Industries in the Credit Intermediation and Related Activities subsector group establishments that (1) lend funds raised from depositors; (2) lend funds raised from credit market borrowing; or (3) facilitate the lending of funds or issuance of credit by engaging in such activities as mortgage and loan brokerage, clearinghouse and reserve services, and check cashing services.
• 5221 Depository Credit Intermediation: This industry group comprises establishments primarily engaged in accepting deposits (or share deposits) and in lending funds from these deposits. Within this group, industries are defined on the basis of differences in the types of deposit liabilities assumed and in the nature of the credit extended.
• 52211 Commercial Banking: See industry description for 522110.
• 522110 Commercial Banking: This industry comprises establishments primarily engaged in accepting demand and other deposits and making commercial, industrial, and consumer loans. Commercial banks and branches of foreign banks are included in this industry. Cross-References.
• 52212 Savings Institutions: See industry description for 522120.
• 522120 Savings Institutions: This industry comprises establishments primarily engaged in accepting time deposits, making mortgage and real estate loans, and investing in high-grade securities. Savings and loan associations and savings banks are included in this industry. Cross-References.
• 52213 Credit Unions: See industry description for 522130.
• 522130 Credit Unions: This industry comprises establishments primarily engaged in accepting members' share deposits in cooperatives that are organized to offer consumer loans to their members.
• 52219 Other Depository Credit Intermediation: See industry description for 522190.
• 522190 Other Depository Credit Intermediation: This industry comprises establishments primarily engaged in accepting deposits and lending funds (except commercial banking, savings institutions, and credit unions). Establishments known as industrial banks or Morris Plans and primarily engaged in accepting deposits, and private banks (i.e., unincorporated banks) are included in this industry. Cross-References.
• 5222 Nondepository Credit Intermediation: This industry group comprises establishments, both public (government-sponsored enterprises) and private, primarily engaged in extending credit or lending funds raised by credit market borrowing, such as issuing commercial paper or other debt instruments or by borrowing from other financial intermediaries. Within this group, industries are defined on the basis of the type of credit being extended.
• 52221 Credit Card Issuing: See industry description for 522210.
• 522210 Credit Card Issuing: This industry comprises establishments primarily engaged in providing credit by issuing credit cards. Credit card issuance provides the funds required to purchase goods and services in return for payment of the full balance or payments on an installment basis. Credit card banks are included in this industry. Cross-References.
• 52222 Sales Financing: See industry description for 522220.
• 522220 Sales Financing: This industry comprises establishments primarily engaged in sales financing or sales financing in combination with leasing. Sales financing establishments are primarily engaged in lending money for the purpose of providing collateralized goods through a contractual installment sales agreement, either directly from or through arrangements with dealers. Cross-References.
• 52229 Other Nondepository Credit Intermediation: This industry comprises establishments primarily engaged in making cash loans or extending credit through credit instruments (except credit cards and sales finance agreements). Illustrative Examples: Consumer finance companies (i.e., unsecured cash loans) Mortgage companies International trade financing Secondary market financing Cross-References. Establishments primarily engaged in--
• 522291 Consumer Lending: This U.S. industry comprises establishments primarily engaged in making unsecured cash loans to consumers. Illustrative Examples: Finance companies (i.e., unsecured cash loans) Personal credit institutions (i.e., unsecured cash loans) Loan companies (i.e., consumer, personal, student, small) Student loan companies Cross-References. Establishments primarily engaged in--
• 522292 Real Estate Credit: This U.S. industry comprises establishments primarily engaged in lending funds with real estate as collateral. Illustrative Examples: Home equity credit lending Mortgage companies Mortgage banking (i.e., nondepository mortgage lending) Cross-References. Establishments primarily engaged in--
• 522293 International Trade Financing: This U.S. industry comprises establishments primarily engaged in providing one or more of the following: (1) working capital funds to U.S. exporters; (2) lending funds to foreign buyers of U.S. goods; and/or (3) lending funds to domestic buyers of imported goods. Illustrative Examples: Agreement corporations (i.e., international trade financing) Export-Import banks Edge Act corporations (i.e., international trade financing) Trade banks (i.e., international trade financing) Cross-References. Establishments primarily engaged in--
• 522294 Secondary Market Financing: This U.S. industry comprises establishments primarily engaged in buying, pooling, and repackaging loans for sale to others on the secondary market. Illustrative Examples: Federal Home Loan Mortgage Corporation (FHLMC) Government National Mortgage Association (GNMA) Federal National Mortgage Association (FNMA) Student Loan Marketing Association (SLMA)
• 522298 All Other Nondepository Credit Intermediation: This U.S. industry comprises establishments primarily engaged in providing nondepository credit (except credit card issuing, sales financing, consumer lending, real estate credit, international trade financing, and secondary market financing). Examples of types of lending in this industry are short-term inventory credit, agricultural lending (except real estate and sales financing), and consumer cash lending secured by personal property. Illustrative Examples: Commodity Credit Corporation Morris Plans (i.e., known as), nondepository Factoring accounts receivable Pawnshops Industrial banks (i.e., known as), nondepository Cross-References.
• 5223 Activities Related to Credit Intermediation: This industry group comprises establishments primarily engaged in facilitating credit intermediation by performing activities, such as arranging loans by bringing borrowers and lenders together and clearing checks and credit card transactions.
• 52231 Mortgage and Nonmortgage Loan Brokers: See industry description for 522310.
• 522310 Mortgage and Nonmortgage Loan Brokers: This industry comprises establishments primarily engaged in arranging loans by bringing borrowers and lenders together on a commission or fee basis. Cross-References. Establishments primarily engaged in--
• 52232 Financial Transactions Processing, Reserve, and Clearinghouse Activities: See industry description for 522320.
• 522320 Financial Transactions Processing, Reserve, and Clearinghouse Activities: This industry comprises establishments primarily engaged in providing one or more of the following: (1) financial transaction processing (except central bank); (2) reserve and liquidity services (except central bank); and/or (3) check or other financial instrument clearinghouse services (except central bank). Illustrative Examples: Automated clearinghouses, bank or check (except central bank) Credit card processing services Check clearing services (except central bank) Electronic funds transfer services Cross-References.
• 52239 Other Activities Related to Credit Intermediation: See industry description for 522390.
• 522390 Other Activities Related to Credit Intermediation: This industry comprises establishments primarily engaged in facilitating credit intermediation (except mortgage and loan brokerage; and financial transactions processing, reserve, and clearinghouse activities). Illustrative Examples: Check cashing services Money order issuance services Loan servicing Travelers' check issuance services Money transmission services Payday lending services Cross-References. Establishments primarily engaged in--
• 523 Securities, Commodity Contracts, and Other Financial Investments and Related Activities^T: Industries in the Securities, Commodity Contracts, and Other Financial Investments and Related Activities subsector group establishments that are primarily engaged in one of the following: (1) underwriting securities issues and/or making markets for securities and commodities; (2) acting as agents (i.e., brokers) between buyers and sellers of securities and commodities; (3) providing securities and commodity exchange services; and (4) providing other services, such as managing portfolios of assets; providing investment advice; and trust, fiduciary, and custody services.
• 5231 Securities and Commodity Contracts Intermediation and Brokerage^T: This industry group comprises establishments primarily engaged in putting capital at risk in the process of underwriting securities issues or in making markets for securities and commodities; and those acting as agents and/or brokers between buyers and sellers of securities and commodities, usually charging a commission.
• 52311 Investment Banking and Securities Dealing: See industry description for 523110.
• 523110 Investment Banking and Securities Dealing: This industry comprises establishments primarily engaged in underwriting, originating, and/or maintaining markets for issues of securities. Investment bankers act as principals (i.e., investors who buy or sell on their own account) in firm commitment transactions or act as agents in best effort and standby commitments. This industry also includes establishments acting as principals in buying or selling securities generally on a spread basis, such as securities dealers or stock option dealers. Illustrative Examples: Bond dealing (i.e., acting as a principal in dealing securities to investors) Stock options dealing Securities underwriting Cross-References.
• 52312 Securities Brokerage: See industry description for 523120.
• 523120 Securities Brokerage: This industry comprises establishments primarily engaged in acting as agents (i.e., brokers) between buyers and sellers in buying or selling securities on a commission or transaction fee basis. Illustrative Examples: Mutual fund agencies (i.e., brokerages) Stock brokerages Securities brokerages Cross-References.
• 52313 Commodity Contracts Dealing: See industry description for 523130.
• 523130 Commodity Contracts Dealing: This industry comprises establishments primarily engaged in acting as principals (i.e., investors who buy or sell for their own account) in buying or selling spot or futures commodity contracts or options, such as precious metals, foreign currency, oil, or agricultural products, generally on a spread basis. Cross-References. Establishments primarily engaged in--
• 52314 Commodity Contracts Brokerage: See industry description for 523140.
• 523140 Commodity Contracts Brokerage: This industry comprises establishments primarily engaged in acting as agents (i.e., brokers) in buying or selling spot or futures commodity contracts or options on a commission or transaction fee basis. Illustrative Examples: Commodity contracts brokerages Financial futures brokerages Commodity futures brokerages Cross-References. Establishments primarily engaged in--
• 5232 Securities and Commodity Exchanges^T:
• 52321 Securities and Commodity Exchanges^T: See industry description for 523210.
• 523210 Securities and Commodity Exchanges: This industry comprises establishments primarily engaged in furnishing physical or electronic marketplaces for the purpose of facilitating the buying and selling of stocks, stock options, bonds, or commodity contracts. Cross-References.
• 5239 Other Financial Investment Activities^T: This industry group comprises establishments primarily engaged in one of the following: (1) acting as principals in buying or selling financial contracts (except investment bankers, securities dealers, and commodity contracts dealers); (2) acting as agents (i.e., brokers) (except securities brokerages and commodity contracts brokerages) in buying or selling financial contracts; or (3) providing other investment services (except securities and commodity exchanges), such as portfolio management; investment advice; and trust, fiduciary, and custody services.
• 52391 Miscellaneous Intermediation: See industry description for 523910.
• 523910 Miscellaneous Intermediation: This industry comprises establishments primarily engaged in acting as principals (except investment bankers, securities dealers, and commodity contracts dealers) in buying or selling financial contracts generally on a spread basis. Principals are investors that buy or sell for their own account. Illustrative Examples: Investment clubs Tax liens dealing (i.e., acting as a principal in dealing tax liens to investors) Mineral royalties or leases dealing (i.e., acting as a principal in dealing royalties or leases to investors) Venture capital companies Cross-References.
• 52392 Portfolio Management: See industry description for 523920.
• 523920 Portfolio Management: This industry comprises establishments primarily engaged in managing the portfolio assets (i.e., funds) of others on a fee or commission basis. Establishments in this industry have the authority to make investment decisions, and they derive fees based on the size and/or overall performance of the portfolio. Illustrative Examples: Managing trusts Pension fund managing Mutual fund managing Portfolio fund managing Cross-References.
• 52393 Investment Advice: See industry description for 523930.
• 523930 Investment Advice: This industry comprises establishments primarily engaged in providing customized investment advice to clients on a fee basis, but do not have the authority to execute trades. Primary activities performed by establishments in this industry are providing financial planning advice and investment counseling to meet the goals and needs of specific clients. Illustrative Examples: Financial investment advice services, customized, fees paid by client Investment advisory services, customized, fees paid by client Financial planning services, customized, fees paid by client Cross-References.
• 52399 All Other Financial Investment Activities: This industry comprises establishments primarily engaged in acting as agents or brokers (except securities brokerages and commodity contracts brokerages) in buying and selling financial contracts and those providing financial investment services (except securities and commodity exchanges, portfolio management, and investment advice). Illustrative Examples: Bank trust offices Fiduciary agencies (except real estate) Escrow agencies (except real estate) Stock quotation services Cross-References. Establishments primarily engaged in--
• 523991 Trust, Fiduciary, and Custody Activities: This U.S. industry comprises establishments primarily engaged in providing trust, fiduciary, and custody services to others, as instructed, on a fee or contract basis, such as bank trust offices and escrow agencies (except real estate). Cross-References. Establishments primarily engaged in--
• 523999 Miscellaneous Financial Investment Activities: This U.S. industry comprises establishments primarily engaged in acting as agents and/or brokers (except securities brokerages and commodity contracts brokerages) in buying or selling financial contracts and those providing financial investment services (except securities and commodity exchanges; portfolio management; investment advice; and trust, fiduciary, and custody services) on a fee or commission basis. Illustrative Examples: Exchange clearinghouses, commodities or securities Stock quotation services Gas lease brokers' offices Cross-References. Establishments primarily engaged in--
• 524 Insurance Carriers and Related Activities^T: Industries in the Insurance Carriers and Related Activities subsector group establishments that are primarily engaged in one of the following: (1) underwriting (assuming the risk, assigning premiums, and so forth) annuities and insurance policies or (2) facilitating such underwriting by selling insurance policies and by providing other insurance and employee benefit related services.
• 5241 Insurance Carriers^T: This industry group comprises establishments primarily engaged in underwriting (assuming the risk, assigning premiums, and so forth) annuities and insurance policies and investing premiums to build up a portfolio of financial assets to be used against future claims. Direct insurance carriers are establishments that are primarily engaged in initially underwriting and assuming the risk of annuities and insurance policies. Reinsurance carriers are establishments that are primarily engaged in assuming all or part of the risk associated with an existing insurance policy (or set of policies) originally underwritten by another insurance carrier. Industries are defined in terms of the type of risk being insured against, such as death, loss of employment because of age or disability, and/or property damage. Contributions and premiums are set on the basis of actuarial calculations of probable payouts based on risk factors from experience tables and expected investment returns on reserves.
• 52411 Direct Life, Health, and Medical Insurance Carriers: This industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) annuities and life insurance policies, disability income insurance policies, accidental death and dismemberment insurance policies, and health and medical insurance policies. Cross-References.
• 524113 Direct Life Insurance Carriers: This U.S. industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) annuities and life insurance policies, disability income insurance policies, and accidental death and dismemberment insurance policies. Cross-References.
• 524114 Direct Health and Medical Insurance Carriers: This U.S. industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) health and medical insurance policies. Group hospitalization plans and HMO establishments that provide health and medical insurance policies without providing health care services are included in this industry. Cross-References.
• 52412 Direct Insurance (except Life, Health, and Medical) Carriers: This industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) various types of insurance policies (except life, disability income, accidental death and dismemberment, and health and medical insurance policies). Illustrative Examples: Automobile insurance carriers, direct Property and casualty insurance carriers, direct Bank deposit insurance carriers, direct Title insurance carriers, real estate, direct Mortgage guaranty insurance carriers, direct Warranty insurance carriers (e.g., appliance, automobile, homeowners', product), direct Cross-References.
• 524126 Direct Property and Casualty Insurance Carriers: This U.S. industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) insurance policies that protect policyholders against losses that may occur as a result of property damage or liability. Illustrative Examples: Automobile insurance carriers, direct Malpractice insurance carriers, direct Fidelity insurance carriers, direct Mortgage guaranty insurance carriers, direct Homeowners' insurance carriers, direct Surety insurance carriers, direct Liability insurance carriers, direct Cross-References.
• 524127 Direct Title Insurance Carriers: This U.S. industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) insurance policies to protect the owners of real estate or real estate creditors against loss sustained by reason of any title defect to real property. Cross-References.
• 524128 Other Direct Insurance (except Life, Health, and Medical) Carriers: This U.S. industry comprises establishments primarily engaged in initially underwriting (e.g., assuming the risk, assigning premiums) insurance policies (except life, disability income, accidental death and dismemberment, health and medical, property and casualty, and title insurance policies). Illustrative Examples: Bank deposit insurance carriers, direct Product warranty insurance carriers, direct Deposit or share insurance carriers, direct Warranty insurance carriers (e.g., appliance, automobile, homeowners', product), direct Cross-References. Establishments primarily engaged in--
• 52413 Reinsurance Carriers: See industry description for 524130.
• 524130 Reinsurance Carriers: This industry comprises establishments primarily engaged in assuming all or part of the risk associated with existing insurance policies originally underwritten by other insurance carriers. Cross-References. Establishments primarily engaged in--
• 5242 Agencies, Brokerages, and Other Insurance Related Activities^T: This industry group comprises establishments primarily engaged in (1) acting as agents (i.e., brokers) in selling annuities and insurance policies or (2) providing other employee benefits and insurance related services, such as claims adjustment and third party administration.
• 52421 Insurance Agencies and Brokerages: See industry description for 524210.
• 524210 Insurance Agencies and Brokerages: This industry comprises establishments primarily engaged in acting as agents (i.e., brokers) in selling annuities and insurance policies. Cross-References.
• 52429 Other Insurance Related Activities: This industry comprises establishments primarily engaged in providing services related to insurance (except insurance agencies and brokerages). Illustrative Examples: Claims adjusting, insurance Insurance plan administrative services, third party Insurance actuarial services Insurance claims adjusting Cross-References. Establishments primarily engaged in--
• 524291 Claims Adjusting: This U.S. industry comprises establishments primarily engaged in investigating, appraising, and settling insurance claims.
• 524292 Third Party Administration of Insurance and Pension Funds: This U.S. industry comprises establishments primarily engaged in providing third party administration services of insurance and pension funds, such as claims processing and other administrative services to insurance carriers, employee benefit plans, and self-insurance funds. Cross-References. Establishments primarily engaged in--
• 524298 All Other Insurance Related Activities: This U.S. industry comprises establishments primarily engaged in providing insurance services on a contract or fee basis (except insurance agencies and brokerages, claims adjusting, and third party administration). Insurance advisory services, insurance actuarial services, and insurance ratemaking services are included in this industry. Cross-References. Establishments primarily engaged in--
• 525 Funds, Trusts, and Other Financial Vehicles: Industries in the Funds, Trusts, and Other Financial Vehicles subsector group legal entities (i.e., funds, plans, and/or programs) organized to pool securities or other assets on behalf of shareholders or beneficiaries of employee benefit or other trust funds. 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 investment income, but have little or no employment and no revenue from the sale of services. Establishments with employees devoted to the management of funds are classified in Industry Group 5239, Other Financial Investment Activities. Establishments primarily engaged in holding the securities of (or other equity interests in) other firms are classified in Sector 55, Management of Companies and Enterprises. Equity real estate investment trusts (REITs) that are primarily engaged in leasing buildings, dwellings, or other real estate property to others are classified in Subsector 531, Real Estate.
• 5251 Insurance and Employee Benefit Funds: This industry group comprises legal entities (i.e., funds, plans, and/or programs) organized to provide insurance and employee benefits exclusively for the sponsor, firm, or its employees or members.
• 52511 Pension Funds: See industry description for 525110.
• 525110 Pension Funds: This industry comprises legal entities (i.e., funds, plans, and/or programs) organized to provide retirement income benefits exclusively for the sponsor's employees or members. Illustrative Examples: Employee benefit plans Retirement plans Pension funds and plans Cross-References. Establishments primarily engaged in--
• 52512 Health and Welfare Funds: See industry description for 525120.
• 525120 Health and Welfare Funds: This industry comprises legal entities (i.e., funds, plans, and/or programs) organized to provide medical, surgical, hospital, vacation, training, and other health- and welfare-related employee benefits exclusively for the sponsor's employees or members. Cross-References. Establishments primarily engaged in--
• 52519 Other Insurance Funds: See industry description for 525190.
• 525190 Other Insurance Funds: This industry comprises legal entities (i.e., funds (except pension, and health- and welfare-related employee benefit funds)) organized to provide insurance exclusively for the sponsor, firm, or its employees or members. Self-insurance funds (except employee benefit funds) and workers' compensation insurance funds are included in this industry. Cross-References.
• 5259 Other Investment Pools and Funds: This industry group comprises legal entities (i.e., investment pools and/or funds) organized to pool securities or other assets (except insurance and employee benefit funds) on behalf of shareholders, unitholders, or beneficiaries.
• 52591 Open-End Investment Funds: See industry description for 525910.
• 525910 Open-End Investment Funds: This industry comprises legal entities (i.e., open-end investment funds) organized to pool assets that consist of securities or other financial instruments. Shares in these pools are offered to the public in an initial offering with additional shares offered continuously and perpetually and redeemed at a specific price determined by the net asset value. Illustrative Examples: Investment funds, open-ended Money market mutual funds, open-ended
• 52592 Trusts, Estates, and Agency Accounts: See industry description for 525920.
• 525920 Trusts, Estates, and Agency Accounts: This industry comprises legal entities, trusts, estates, or agency accounts, administered on behalf of the beneficiaries under the terms of a trust agreement, will, or agency agreement. Illustrative Examples: Bankruptcy estates Private estates (i.e., administering on behalf of beneficiaries) Personal investment trusts Testamentary trusts Cross-References. Establishments primarily engaged in--
• 52599 Other Financial Vehicles: See industry description for 525990.
• 525990 Other Financial Vehicles: This industry comprises legal entities (i.e., funds (except insurance and employee benefit funds; open-end investment funds; trusts, estates, and agency accounts)). Included in this industry are mortgage real estate investment trusts (REITs). Illustrative Examples: Closed-end investment funds Special purpose financial vehicles Collateralized mortgage obligations (CMOs) Unit investment trust funds Face-amount certificate funds Mortgage real estate investment trusts (REITs) Real estate mortgage investment conduits (REMICs) Cross-References.