Question ID: 503
Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Article: 35
Status: Final
Date of submission: 08 Jan 2016
Question
What is the correct classification for C0230 (Issuer Sector) in case of mutual funds?
We believe that it should be K.66.30 Fund management activities (not K.64.30 Trusts, funds and similar financial entities), is this correct?
Similar to this, we also believe that we have to report the LEI code of the fund management company (and not the particular mutual fund) in the field C0210 (Issuer Code).
EIOPA answer
According to the NACE Rev. 2 - Statistical classification of economic activities in the European Community, “66.30 Fund management activities” includes portfolio and fund management activities on a fee or contract basis, for individuals, businesses and others, such as management of mutual funds. The classification of the issuer sector C0230 for funds is to be conducted on a case-by-case basis. To be classified as a K.64.30 it needs to correspond to “legal entities organised to pool securities or other financial assets, without managing, on behalf of shareholders or beneficiaries”.
Correct, regarding CIC category 4 – Collective Investments Undertakings, the issuer code is the code of the fund manager (as described in the Instructions).