Month: January 2020

Fund managers criticise deteriorating quality of research Heavy hitters in the investment industry have deplored the exodus of sellside analysts, a trend exacerbated by new EU-wide rules. The introduction of Mifid II in January required investment banks and brokers to separate the cost of research from trading activity offered to asset managers. It had been expected that it would prompt more analysts to leave the industry and this was happening, said several fund managers. “We... Read more

Asset managers cut fees for share trading after introduction of Europe’s Mifid II rules Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.comT&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found here. https://www.ft.com/content/5c32d1c8-658c-11e8-90c2-9563a0613e56 Investment... Read more

Corporate access: death of the go-between? Investors and portfolio companies increasingly prefer to arrange meetings directly In the months just before the introduction of Mifid II — the wide-ranging markets regime put in place in Europe in January — much of the discussion among asset managers was about the treatment of research payments. Another change received a lot less coverage but it has already led to significant behavioural shifts in the investment industry and beyond.... Read more

Mifid II crossroads – a fair price for research? Fund managers may be forced to wake up to the true price of broker insight, says Chris Turnbull, co-founder of ERIC Over three months on from the implementation of Mifid II, the market continues to grapple with what constitutes a fair price for research. The cost of written research fell to surely unsustainable levels in the lead up to Mifid II implementation. Now is the time... Read more