NAICS Code 523910-02 - Mutual Funds

Marketing Level - NAICS 8-Digit

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NAICS Code 523910-02 Description (8-Digit)

Mutual funds are a type of investment vehicle that pools money from multiple investors to purchase a diversified portfolio of stocks, bonds, or other securities. The mutual fund is managed by a professional fund manager who makes investment decisions on behalf of the investors. Mutual funds offer investors the opportunity to invest in a diversified portfolio of securities with relatively low investment amounts. The value of the mutual fund is determined by the performance of the underlying securities in the portfolio.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 523910 page

Tools

Tools commonly used in the Mutual Funds industry for day-to-day tasks and operations.

  • Portfolio management software
  • Risk management software
  • Financial analysis software
  • Trading platforms
  • Investment research tools
  • Performance tracking tools
  • Compliance software
  • Customer relationship management (CRM) software
  • Accounting software
  • Data analytics tools

Industry Examples of Mutual Funds

Common products and services typical of NAICS Code 523910-02, illustrating the main business activities and contributions to the market.

  • Equity mutual funds
  • Bond mutual funds
  • Money market mutual funds
  • Index mutual funds
  • Sector mutual funds
  • International mutual funds
  • Balanced mutual funds
  • Growth mutual funds
  • Value mutual funds
  • Dividend mutual funds

History

A concise historical narrative of NAICS Code 523910-02 covering global milestones and recent developments within the United States.

  • The mutual funds industry has a long history dating back to the 18th century. The first mutual fund was established in the Netherlands in 1774, followed by the first US mutual fund in 1893. The industry experienced significant growth in the 1920s, but the Great Depression led to a decline in assets. The industry rebounded in the 1950s and 1960s, with the introduction of new types of funds, such as bond funds and money market funds. In the 1970s, the industry faced increased regulation, including the Investment Company Act of 1940, which required mutual funds to register with the SEC. The 1980s and 1990s saw the rise of index funds and the growth of the industry into a major player in the financial markets. In recent history, the mutual funds industry in the United States has continued to grow, with assets under management reaching over $22 trillion in 2020. The industry has faced challenges, such as the 2008 financial crisis and increased competition from exchange-traded funds (ETFs). However, mutual funds remain a popular investment vehicle for individual investors and institutions alike. The industry has also seen advancements in technology, with the rise of robo-advisors and the use of artificial intelligence in investment management.