Portfolio Management
Key Figures
Figures are published for NAICS 52392 directly.
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Official definition
This industry comprises establishments primarily engaged in managing the portfolio assets (i.e., funds) of others on a fee or commission basis. Establishments in this industry have the authority to make investment decisions, and they derive fees based on the size and/or overall performance of the portfolio.
Source: US Census Bureau, 2017 NAICS Definitions. Public domain. Census publishes this definition under NAICS 523920, the only detailed industry in this group.
Illustrative examples
- Managing trusts
- Pension fund managing
- Mutual fund managing
- Portfolio fund managing
Which code does this activity belong in?
Portfolio management establishments make investment decisions on behalf of clients and charge fees based on portfolio size or performance. The distinction from investment advice is that portfolio managers actively control and direct client assets, whereas investment advisors provide recommendations without exercising decision-making authority over the funds. Trust offices and fiduciary agencies that hold assets but do not actively manage investment decisions belong to All Other Financial Investment Activities.
Written for NAICS 523920, the only detailed industry in this group.