Determinants of non-compliant equity funds with EU portfolio concentration limits

Lidia Loban, José Luis Sarto and Luis Vicente

Journal of Multinational Financial Management, 2021, vol. 62, issue C

Abstract: This study identifies the determinants of domestic equity funds that fail to comply with the portfolio concentration limits of the EU Directive 2009/65/EC. This study also determines the characteristics of the stocks subject to these non-compliant portfolios. The empirical application to a comprehensive sample of domestic equity funds registered in the Eurozone provides significant information that can help to improve market supervision in terms of investors’ protection.

Keywords: EU directives; Portfolio concentration limits; Domestic equity funds; Eurozone benchmarks (search for similar items in EconPapers)
JEL-codes: G11 G18 G23 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mulfin:v:62:y:2021:i:c:s1042444x21000311

DOI: 10.1016/j.mulfin.2021.100707

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