Old Mutual Global Investors (OMGI) has decided to absorb the cost of external research, with only a little over two months left until the deadline.
Joining many other asset managers who, over the last few months, have decided to pay for research from their P&L, OMGI will not charge clients separately.
Among those who made the same decision in the run up to the implementation of Mifid II in January 2018 are Aberdeen Standard, Jupiter Asset Management, JP Morgan Asset Management, Hawksmoor, Barings, T Rowe Price, Allianz Global Investors, Janus Henderson and Aviva Investors.
In a statement, Warren Tonkinson, managing director, said: 'Old Mutual Global Investors prides itself on offering competitive fees for active funds, with high active share, that deliver alpha.
'External research remains of the utmost importance to our business, in order to allow fund managers to deliver good investment outcomes. However, we do not believe it is in the best interests of our customers to charge them separately for this research. Therefore, we have decided that from 3 January 2018, for Mifid II affected funds, the business will absorb the cost of research.'