Fund managers in Europe have cut their research budgets for 2018 by 20%, which is "more aggressive budget cutting" than previously predicted, as MiFID II drives a reduction in number of research providers they use, according to a survey.
According to US consulting firm Greenwich Associates, the decline in spending is largely driven by a more selective approach to buying research from a smaller number of banks, reported Bloomberg. The...
AUM growth of 19% in first half of 2018
Move to improve access to institutional managers without a retail fund
Launching fund end of 2018
Purchased for undisclosed sum