Deutsche Asset Management today announced it is to absorb the cost of external research for clients under the new MiFID II directive, which will take effect in 2018. Deutsche AM’s clients will therefore not be burdened with additional costs.
The directive prescribes that banks, brokers, and trading firms must invoice buy-side investors separately for the research they provide. The fund managers in turn can choose either to allocate these research costs to their funds and mandates, i.e. their clients, or to absorb the costs themselves.
Nicolas Moreau, head of Deutsche Asset Management and member of the Management Board of Deutsche Bank, wrote in an email to all Deutsche Asset Management staff today: “As we strive to deliver both certainty and transparency to our clients, I am pleased to announce that Deutsche Asset Management will absorb the cost of external research for funds under the new MiFID II directive. We strongly believe that our approach is the best possible solution to the requirements of the new directive and that it will allow us to remain fully committed to delivering market-leading solutions to our clients.”
Moreau further noted that clients could rest assured that Deutsche Asset Management’s proven and successful investment approach – built on the expertise of in-house investment professionals – would remain untouched.
Additionally, Deutsche AM will continue to purchase high quality external research to ensure its fund managers have all necessary means for their investment processes. To this end, Deutsche Asset Management will negotiate with its third-party research providers to optimise costs.
For further information, please contact:
Deutsche Asset Management
Head of Press & Media Relations
Tel: +49 (0)69 / 910 61960
UK Press & Media Relations
Tel: +44 207 547 2603
Deutsche Asset Management With EUR 711 billion of assets under management (as of June 30, 2017), Deutsche Asset Management is one of the world’s leading investment management organizations. Deutsche Asset Management offers individuals and institutions traditional and alternative investments across all major asset classes.
1 . Deutsche Asset Management is the brand name of the Asset Management division of the Deutsche Bank Group. The respective legal entities offering products or services under the Deutsche Asset Management brand are specified in the respective contracts, sales materials and other product information documents.