Premier breaks industry norm with MiFID II approach

Changes to cost of research

Premier Asset Management has announced a mixed solution for research costs under MiFID II, charging investors in equity funds only for external research.

The firm said in its final results released this morning that investors in its equity funds will continue to be charged the cost of external equity research. This was because external research on its equity products was "a significant part of the active management process for these funds".  However, research costs for multi-asset, fixed income and absolute return funds will be absorbed by the firm. These funds represent 74% of the firm's assets under management but Premier said the decision was not expected to have a material impact on the firm's cost base.  Most asset managers ...