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FACTBOX-Asset managers' research cost plans due to MiFID-II
September 4, 2017 / 10:39 AM / 15 days ago

FACTBOX-Asset managers' research cost plans due to MiFID-II

 (Adds JO Hambro Capital Management, NN Investment Partners)
    Sept 4 (Reuters) - New regulation kicking in next year will
force brokers in the European Union to charge clients a separate
price for investment research, rather than bundling the cost in
with trading services. 
    The new rules, known as Markets in Financial Instruments
Directive, or MiFID II, aim to make European securities markets
more transparent. 
    The MiFID II directive comes into force in less than six
months, leaving asset managers with a choice of whether to
absorb the cost of paying for research, or pass it on to
clients.
    Here is a breakdown of how asset managers have decided so
far to handle the matter:

 FUNDS PASSING ON COST TO CLIENTS    ASSETS UNDER MANAGEMENT
 Man Group's stockpicking unit GLG   $31.2 billion
 Janus Henderson Group Plc           $345 billion (June 30)
 Schroders                           $536 billion (June 30)
 Amundi Asset Management             1.12 billion eur (June 30)
 Union Investment                    310 billion eur (June 30)
 Invesco Ltd                         $876.9 billion (July 31)
 
 FUNDS ABSORBING COST            ASSETS UNDER MANAGEMENT
 JP Morgan Asset Management      $1.87 trillion
 T Rowe Price                    $903.6 billion
 Vanguard                        $4 trillion (Dec 31)
 Jupiter Fund Management         $60.15 billion (June 30)
 M&G Investments                 264.8 billion pounds(Dec 31)
 Aberdeen Asset Management       $385.2 billion (March 31)
 Unigestion                      $23.9 billion
 Hermes Investment Management    30.1 billion pounds (June 30)
 Baillie Gifford                 166.6 billion pounds (June)
 Woodford Investment Management  17.8 billion pounds (May 31)
 BlueBay Asset Management        $51.7 billion (March 31)
 JO Hambro Capital Management    29.2 billion pounds
 NN Investment Partners          245 billion euros (June 30)
 
($1 = 0.7723 pounds)
($1 = 0.8396 euros)

 (Compiled by Noor Zainab Hussain in Bengaluru and Carolyn Cohn,
Maiya Keidan and Simon Jessop in London; Editing by Jane
Merriman and Susan Fenton)
  

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