Lindsell Train: Regulatory burden means hiring extra staff for 'no benefit and considerable extra cost'

Potential for further hires

Lindsell Train has warned it may need to add to its compliance team in order to cope with the "burden" imposed on the firm by greater regulation including MiFID II, but added it expects research costs paid by the firm to be lower than other asset managers.

The firm confirmed it would be absorbing research costs under MiFID II but said it expected these costs to be low relative to other asset managers' payments given the firm mainly uses in-house research.  However, in its half-yearly update to 31 July, it cautioned it may be forced to hire additional staff in the future in order to cope with the greater regulatory and administrative burden imposed on the firm. Funds under management at Lindsell Train, which includes the investment trust, UK Equity, Global Equity and Japanese Equity funds, were £11.3bn, up £2.4bn from the end of 2016.  ...