Hargreaves urges fund groups to absorb research costs post-MiFID II

In the letter, Lee Gardhouse, chief investment officer at Hargreaves, said the platform giant notes the increasing number of providers who have decided to meet the cost of research from their own P&L, rather than charging clients. "According to recent research reported by FT.com more than 70% of Investment Management firms who have reached a decision on research payments, have opted to meet the cost themselves," the letter said. "Whilst we appreciate that many may still remain undecided at this point, there does seem to be a clear momentum towards this policy. We encourage all those I...