Investment Research Costs - MiFID II
As you may know, UK and European based asset managers have been reviewing how they source and pay for investment research. This has been driven by the implementation of MiFID II early next year.
Martin Currie has undertaken significant work in assessing the value of third party investment research that our investment team currently receives. We have concluded that external research remains valuable for us as an input to our investment case, providing challenge to our thinking and cost effective expertise in more specialist areas.
Against the backdrop of our fully resourced investment team, with its focus on long-term proprietary research, we have concluded that paying for this research through our own profit and loss account is in the long term interest of all of our clients, both from an investment return and cost perspective. As a result, total commissions paid will be lower and this will ultimately enhance the long term investment performance we deliver.