Document ID: chunk:federal_register_of_legislation:F2017L00724:body:0:p28
Version: federal_register_of_legislation:F2017L00724
Segment Type: other
Provision Reference: 
Character Range: 88356–92236

and financial advisory services for a range of state and territory government and semi government entities.

                                                   Includes: Tcorp, TCV, QTC, WATC, SAFA, TasCorp, NTTC.

                                                   Excludes: ACT Treasury.

Securitisers                                       Represents issuers of asset-backed debt securities that are backed by a pool of specific assets, often residential mortgages. The securities issued can be short-term or long-term.

                                                   Excludes: issuers of covered bonds.

Financial auxiliaries                              Represents corporations and quasi-corporations engaged primarily in activities closely related to financial intermediation, but which do not themselves perform an intermediation role.

                                                   Includes: fund managers as principal; stockbrokers; insurance brokers; investment advisors; and corporations providing infrastructure for financial markets.

Investment funds                                   Represents collective investment vehicles through which investors pool funds for investment in financial or non-financial assets. Under System of National Accounts (SNA) 2008, they are recognised as separate institutional units. Investment funds normally take the format of a trust which is governed by a trust deed.

Property and infrastructure trusts                 Property trusts represent investment trusts that provide exposures to investment in real estate where the earnings and capital value are dependent on cash flows generated by the property through sale or rental income.

                                                   Infrastructure trusts represent investment trusts that provide exposure to investments in the basic physical systems of a country, state or region including transportation, communication, utilities, and public institutions.

Cash management trusts                             Represents a unit trust which is governed by a trust deed which generally confines its investments (as authorised by the trust deed) to financial securities available through the short-term money market. Cash management trusts issue units in the trust that are redeemable by the unit holder on demand.

                                                   Includes: retail trusts and wholesale trusts.

                                                   Excludes: cash management accounts with banks or other deposit-taking institutions (included as deposits).

Retail trusts                 Represents a collective investment vehicle with units on issue which provides exposure to a diversified portfolio of investments and can be accessed by retail clients, at low entry levels, as defined in the Corporations Act 2001.

Wholesale trusts              Represents a collective investment vehicle that provides exposure to a diversified portfolio of investments and can be accessed by wholesale clients only, at high entry levels, as defined in the Corporations Act 2001.

                              Excludes: retail unit trusts; agricultural trusts; film trusts.

Pooled superannuation trusts  Represents a type of collective investment trust where an investment manager invests the assets of superannuation funds, approved deposit funds and other pooled superannuation trusts.

                              Excludes: unitised investments with life companies where the original or primary investment is an insurance or investment policy.

Investment companies          Represents incorporated corporations whose main purpose is to invest in equities. They may be listed on stock exchanges or unlisted. Those quoted on Australian Securities Exchange (ASX) are called Listed Investment Companies (LICs).

Other financial institutions  Represents financial