MiFID II sees some clients take disproportionate hit on research costs

Under MiFID II, which came into force in January, asset managers must set budgets for investment research, leading most UK firms to take the cost on themselves, via their own profit-loss account. According to research by Frost Consulting, seen by the FT, emerging market equity funds charging clients for research are spending 7.5 times more on average compared to those that absorb the cost. For European equity and North American equity funds, the cost is 3.8 times and 2.7 times respectively. Kay Swinburne MEP: What we intended with MiFID II Chief executive of consultancy Quinlan & A...