This service includes legal entities created for the purpose of holding security bonds or other financial assets, but without performing management functions per the shareholders’ order. The portfolios are tailored to customer requirements in a manner meeting any specific investment criteria with regards to diversification, risk, return on interest, and price volatility. These units earn income in the form of interest, dividends, and other income on investments, but have only few or no employees and earn no revenues from the sale of services.
This service includes:
- Open-ended mutual funds
- Closed-ended mutual funds
- Prorated mutual funds with investment-fund shares held in trust ("unit investment trust funds")
- Trust funds, estates, or trust accounts held in trust on behalf of the beneficiaries under a trust agreement, a last will and testament, or an agency agreement