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22 February 2018

フィナンシャル・タイムズ紙:フィデリティ・インターナショナル、外部リサーチ費用の支払いについて、顧客転嫁から自己資金支払いへと方針転換


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Fidelity International has backtracked on its decision to pass on the cost of investment research under MiFID II to clients after coming under pressure to pay the charge from its own pocket.


The fund house was just one of three large asset managers that had decided to charge clients for research under sweeping new European rules that came into force in January. But the Bermuda-based asset manager said today that following “extensive discussions” with clients, it would fully absorb the cost of external research. Paras Anand, CIO equities for Europe at Fidelity said the company had initially decided to implement a so-called research payment account, that involves paying external research providers via a budget which is collected through a charge alongside transaction commissions on equity trades. “The overwhelming industry consensus has been to not embrace the RPA model which in turn means our clients, in most cases, would face disproportionate operational and reporting consequences were we to retain this approach,” he said.

Of Europe’s largest fund houses, only Carmignac and Deka continue to charge clients for research.

Full article on Financial Times (subscription required)



© Financial Times


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