T. Rowe Price to absorb global research costs

Expanding European strategy

T. Rowe Price is the latest asset management group to state its intention to absorb the cost of research on a global basis.

The group - which last week posted assets under management (AUM) of $1.13trn - will from 1 January 2020 pay for third-party research business globally, making it one of the largest group to commit to covering research costs. The group began paying for investment research used by its UK-based investment manager, T. Rowe Price International across its European operations on 3 January 2018, in line with MiFID II requirements. T. Rowe Price said it would take a "hybrid" approach, paying directly for third-party research where brokers accept "hard dollars"; non-US brokers tend to accept th...