Glossary
Single-issuer limit
A single-issuer limit caps the share of a portfolio invested in securities of any one issuer, usually as a percentage of portfolio value.
A single-issuer limit is the most common concentration rule in investment policies. Typical wording is “no more than 5% of the portfolio in any single issuer”. Policies often exempt government bonds or diversified funds.
Regulation supplies familiar numbers. A UCITS may hold 5% in one issuer, or 10% if holdings above 5% total no more than 40% (UCITS 5/10/40). UK occupational pension schemes, other than small schemes, may hold no more than 5% in employer-related investments.
The limit is measured on market value against a stated denominator, usually total portfolio value. Acclimetry’s issuer concentration limit evaluates the per-issuer cap, not the UCITS 40% aggregate test. Example: 300 of a 1,000 portfolio in one issuer is 30%, a breach of a 25% cap with headroom of −5 points.
See also
Sources
- Directive 2009/65/EC (UCITS), Article 52, text as it stood at UK exit (legislation.gov.uk; source of record EUR-Lex) · OGL v3.0 · Read on12 October 2026
- Occupational Pension Schemes (Investment) Regulations 2005, reg 12 (employer-related investments) · OGL v3.0 · Read on12 October 2026
- Acclimetry rule-template registry (32 templates, methodology options, reason codes and 108 engine-checked cases; backend commit 8197063) · cite only · Read on12 October 2026