MiFID II Research Fees – Taking to P&L Appears to be the Direction – See the List

Below is a the list of who’s planning on doing what with the research fees. Directionally most currently appear to be taking to P&L with the RPA route appearing unpopular with many and this is not a surprise given the knock on ramifications of taking the RPA approach.

…However a number of firms have yet to decide or have declined to disclose their approach at this time.

Take to P&L RPA Undecided
Allianz Global Investors Amundi Ashmore
Baille Gifford BNP Parisbas * Aviva Investors
Brewin Dolphin Carmignac Axa Investment Management
Charles Stanley Deka Blackrock
Evenlode Invesco ** BNY Mellon
Equitile Janus Henderson Candriam
Flossbach von Storch Man Group Deutche Asset Management
Hernes Schroders Fidelity Interational
JO Hambro Union Investmenet Franklin Templeton
JP Morgan Asset Management GAM
Jupiter Insight Investment
Kempen Capital Management Legal & General
M&G Investment Investment Management
MN Investments Partners * Although previously said RPA, are Lyxor
Northern Trust Asset Management still deciding Natixis Global Asset Management
Pimco Nordea
Rathbones ** RPA is prefefed approach but still Old Mutual Global Investors
Robeco deciding Pictet
Russell Investment Royal London
Seven Investment
Standard Life Aberdeen
Stwewart Investors
T Rowe Price
Troy Asset Management
Twenty Four Asset Management
Unigestion
Vanguard
Woodford Investmenet Management
Data at of 5th September 2017
Source – FT research