UK asset management to see post Brexit flight of EU nationals
The UK investment management industry is likely to lose many of its European professionals following Brexit, the results of a new survey have found.
The UK investment management industry is likely to lose many of its European professionals following Brexit, the results of a new survey have found.
Leading bond investors issued separate warnings on Friday that the dual tailwinds credit investors have enjoyed in recent years are about to die down.
Fidelity International’s announcement that it will implement a performance-based fee sparked mixed reactions in the industry. As always, the devil will be in the detail.
Fidelity International is the first major asset manager to make a switch to a “value for money” charging structure. The asset manager will give money back to clients when its funds underperform.
Fidelity International has decided it will pass on costs for external research under Mifid II to clients.
The British asset manager Schroders and its German peer Union Investment announced on Friday they would absorb all external research costs under Mifid II. Both companies had previously said they would pass some of these costs on to clients.
The US Federal Reserve announced it will begin to unwind its quantitative easing programme in October, and said another rate hike this year is likely despite persistently low inflation.
Stark differences in regulatory interpretation among the 28 members of the European Union means that Mifid II could end up defying its purpose and result in a “fragmented” single market.
Deutsche Asset Management and Franklin Templeton are the latest firms to reveal they will take on the cost of research once Mifid II comes into force next year.
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