-According to the
FT a Spanish compromise on the Pension Funds Directive could be agreed on next EU finance ministers meeting in two weeks.
The compromise will combine two different approaches, FT says.
Funds operating across borders will be banned from investing more than 30 per cent of their assets in securities listed on 'unregulated markets”, will also be forbidden from investing more than 5 per cent of their portfolios into a single share or bond, and will not be allowed to put more than 5 per cent of their assets in shares of their own company.
Apart from these limits, pension funds will be regulated by the less restrictive 'prudent man' rules, which require managers to diversify their portfolio and manage it prudently.
Full article: Spanish plan may resolve EU pensions dispute
© Financial Times
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