Hermes Investment Management has become the latest provider to decide to absorb external research costs rather them pass them onto clients, ahead of huge changes in this area when MiFID II is implemented at the start of 2018.
According to a report in The Financial Times, Eoin Murray, head of investment at Hermes, described the move as "the right thing to do in terms of the end beneficiary". "When we looked at the cost of...
Joined with 21 Partners
Consequences could be more severe than in stress tests
Move to variable operating expenses
Set to happen on 4 April