Swedish fund warned over private equity holdings

According to press reports, Swedish asset management firm Banco has been warned by the country’s regulator Finansinspektionen, for exceeding the limit on private equity investments. The regulator decided to issue a warning rather than revoke the firm’s licence because the investment house has proved that it is reducing its holdings. Banco allowed its private equity allocation in some of its funds to rise up to 40%, in spite of a cap being set at 30%.

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