“‘This will make competition among asset managers even more intense,’ Mr Maxey said. ‘Absorbing research costs will increase the drag on fund performance and eat into profit margins. It could help to accelerate consolidation across the asset management industry.’”
Financial Times: BlackRock to foot bill for external research under Mifid II
Third Bridge co-founder and managing director Joshua Maxey predicts increased competition among asset managers as more decide to absorb research costs under Mifid II
