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Amundi set to absorb MiFID II research costs

Amundi set to absorb MiFID II research costs

Amundi has become the latest fund house that plans to absorb research costs when MiFID II comes into effect, the company has confirmed.

The firm had previously ruled out covering costs in August. However, one month later the firm said it was ‘reviewing its options’ given the context of the Pioneer integration.

Amundi said research is a vital pillar of its investment process, but that external research is only complementary and auxiliary.

The firm has a 200-strong research team, which represents more than 50% of the total costs of research used by portfolio managers.

The impact of the decision on the firm’s profit and loss, with the combined purchase power post-Pioneer, should mean it can lower costs further.

Between the 2009 merger of Credit Agricole AM and SocGen AM in 2014, Amundi reduced brokerage fee costs by 50%.

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