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Axa IM to pay for research on all global funds

Blackrock has also confirmed it will absorb research costs

Axa Investment Managers will extend its plans to absorb research costs to all its funds and not just Mifid II accounts, the firm has revealed.

Subject to local regulation, Axa IM will now pay for the “active research” across all the funds it manages globally, in a move that will differentiate the French firm from its competitors.

AXA IM chief executive Andrea Rossi says:“In order to prepare the implementation of MiFID II, AXA Investment Managers has undertaken a thorough analysis of our internal research capabilities and our need for externally produced research.

“As an active manager, research is at the heart of our investment process and our managers leverage both our extensive internal research and externally produced research to develop the most efficient investment processes and identify the best alpha sources to best serve our clients’ needs.

“We remain committed to active research and at the same time have made the decision to fully absorb the costs associated with the external research we utilise on our clients’ behalf.  We feel this is the most appropriate approach to deliver the best results for our clients, provide clarity in their fees and best serve their interests.”

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Pimco has followed in the footsteps of its US rivals Vanguard and JP Morgan Asset Management to announce it will absorb research costs under Mifid II. The California-headquartered bond manager would not comment on the hit to revenues, Financial News reports. JPMAM confirmed last week it would absorb the costs when the European regulation comes into place at the […]

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