BlackRock to Absorb Cost of Analyst Research Under MiFID II
- Axa Investment Managers to pay for all analysis globally
- Rules could see firms cut research spend by $1.5 billion
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BlackRock Inc. says it won’t pass the cost of investment research onto clients when new European regulations come into force in January, joining a growing number of asset managers who are planning to absorb the extra expense.
“From January 2018, any external research costs incurred for MiFID-impacted funds and client accounts will be paid for by BlackRock,” the company said in an emailed statement. “We are committed to developing our internal capabilities, while ensuring our teams retain access to external research that adds value.”