Ray Tubman: Mind the drop with MiFID II

So the ‘10% drop' calculation required by the MiFID II legislation sounds easy enough, eh? Just get the balance at the start of period, the balance at the current point, account for your cashflows in and out, apply some Dietz return calculations and hey presto … Many platforms will now be running these calculations on behalf of advisers and discretionary managers because they hold the transactional data for each end-client. For clients in model portfolios, meanwhile, discretionary managers will be delegating the responsibility for running these calculations to the platforms - though, of ...