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7340 Financial Asset Investors
This class consists of units (except units of separately constituted superannuation funds) mainly engaged in investing money on their own account in predominantly financial assets (including mortgages). Also included are investment type unit trusts mainly engaged in holding financial assets.
Exclusions / References
(b) underwriting new security issues, or in buying or selling stocks, shares or other financial securities for others are included in Class 7511 Financial Asset Broking Services;
(c) managing (e.g. on a commission or fee basis) financial asset investments for others (except for separately constituted superannuation funds), or units mainly engaged in providing trustee or financial asset investment advisory services are included in Class 7519 Services to Finance and Investment n.e.c.; and
(d) operating real property are included in Subdivision 77 Property Services.
Friendly Society operation (investment type; in predominantly financial assets); Investment operation (own account; in predominantly financial assets; except superannuation funds); Unit trust operation (investment type; in predominantly financial assets; except trust management on a commission or fee basis); Holding company operation (viz. holding shares in subsidiary companies)