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Definition

A maximum percentage of a single equity share that can be held by an institution usually expressed as a percentage of their total portfolio. Most institutions (like pension funds, unit trusts and insurance companies) require their fund managers to operate within limitations. From time to time this may cause them to make adjustments to the portfolio. For example, the Naspers share price has risen substantially over the past ten years from around R175 to levels over R3500. This has forced some fund managers to sell down their holdings of Naspers to maintain their single stock limitations.

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