Crux set to raise fund fees after MiFID II implementation

Effective 3 January 2018

Tom Eckett
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MiFID II research costs
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MiFID II research costs

Boutique firm Crux Asset Management is set to increase the fees across two of its funds, including the flagship £2bn European Special Situations fund, after the firm announced plans to continue charging clients research costs after MiFID II implementation.

Giles Kidd-May, marketing director at Crux, said it was a "continuation" of current practices to pass research costs onto clients but MiFID II rulings has resulted in an increase in the ongoing charges figure (OCF) on two funds after the legislation comes into effect on 3 January 2018. Under MiFID II firms will be forced to allocate a research budget rather than charging a variable rate for each piece of research, while separating research costs from trading costs. The flagship European Special Situations fund, co-managed by Richard Pease and James Milne and brought over from Henders...

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