Neptune investors to bear almost £2m in research costs next year

Firm revealed estimates

Neptune Investment Management has revealed its research budget for 2019, which will be charged to investors in the ongoing charges figure (OCF) following the implementation of MiFID II this year.

In total, Neptune's range of funds will incur research costs from external providers of £1,941,560 in 2019, the firm has estimated. The research costs were previously lumped in with the trade execution costs prior to MiFID II. The Europe-wide regulation, which came into force in January, requires research costs to be unbundled from trading costs and clearly identifiable when charged to a client. Burnett quits Neptune after 16 years to set up firm In its external research policy, Neptune said: "It is important to recognise this cost does not represent a new cost to our clients and t...