Barings to Absorb External Research Costs Resulting from MiFID II Implementation
(Thomson Reuters ONE) -
CHARLOTTE, N.C., Sept. 19, 2017 (GLOBE NEWSWIRE) -- Barings, one of the world's
leading asset management firms with over $288 billion in assets under
management, has announced that it will absorb external investment research costs
when the latest expansion of the Markets in Financial Instruments Directive
(MiFID) is implemented. This encompasses all of the firm's global equity, multi-
asset and fixed-income portfolios impacted by MiFID II, scheduled to take effect
on January 3, 2018.
MiFID was developed by the European Union to improve the functioning of
financial markets in the wake of the 2007-2008 global financial crisis. MiFID II
represents an expansion of the original MiFID legislation and impacts a wide
range of areas in asset management. Specific to investment research costs,
MiFID II will require asset management firms that operate in the European Union
to unbundle the costs of external research from trading execution costs, which
had been the industry standard. After MiFID II is implemented, firms will either
need to pass those research costs onto their clients or absorb them directly.
"Fundamental research is the foundation of successful active management, and
over the past several years Barings has made significant investments in
expanding its own comprehensive in-house research capabilities, thereby reducing
our third-party research costs," said Ghadir Abu Leil-Cooper, Global Head of
Equities. "While we will continue to utilize select external research where it
benefits our clients, the decision to absorb those costs is a logical step in
strengthening our partnerships with our clients."
Tom Finke, Barings Chairman and Chief Executive Officer, added, "Barings
possesses exceptional breadth and depth of investment research talent, which
serves as the underpinning of a robust global investment platform designed to
serve our clients' needs. Our decision to absorb the costs for third-party
research reflects our overarching goal of advancing partnership and putting our
clients' interests first."
As an active manager with deep expertise across traditional and alternative
asset classes, Barings possesses extensive in-house research capabilities,
leveraging the skills of hundreds of experienced investment professionals
globally to generate investment ideas and manage portfolios on behalf of its
clients. During the past several years, the firm has made additional investments
to expand its equity, multi-asset and fixed-income research platforms, and it
plans to continue expanding its proprietary research capabilities in the coming
years in response to client needs.
About Barings LLC
Barings is a $288 billion* global financial services firm dedicated to meeting
the evolving investment and capital needs of our clients. We build lasting
partnerships that leverage our distinctive expertise across traditional and
alternative asset classes to deliver innovative solutions and exceptional
service. A member of the MassMutual Financial Group, Barings maintains a strong
global presence with over 600 investment professionals and offices in 16
countries. Learn more at www.barings.com.
Contact:
Brian Whelan, Corporate Communications, brian.whelan(at)barings.com
17/638
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Barings via GlobeNewswire
Datum: 19.09.2017 - 14:30 Uhr
Sprache: Deutsch
News-ID 560463
Anzahl Zeichen: 3974
contact information:
Town:
Charlotte
Kategorie:
Business News
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