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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
Units of holding companies mainly engaged in activities other than holding shares, or of trusts or funds mainly engaged in producing goods or services (rather than merely investing money), are classified to the appropriate industry classes in accordance with their major activity. Units mainly engaged in

(a) providing benefits through separately constituted funds are included in Class 7412 Superannuation Funds;

(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.