Pay MiFID Research Costs Yourselves, Wealth Managers Tell Funds
- Asset owners say fund managers should absorb research costs
- MiFID II brings in research payment costs for asset overseers
This article is for subscribers only.
As fund managers and research providers tussle over the cost of research under new European rules, some wealth managers are resisting the idea of paying anything at all.
The MiFID II regulations are “just another way of taxing people,” said Hilmi Unver, who heads the ultra-high-net-worth and family office unit at Geneva-based wealth manager Notz Stucki & Cie. If an asset manager tries to pass on research costs “we’d drop the fund. There’s no reason to pay more.”