Milan-headquartered asset manager Generali Investments will absorb costs for external research under Mifid II.
A review of the Italian firm’s existing research model has been processed, led by Vincent Chaigneau who joined Generali Investments as head of Research last August, with the objective of developing a best-in-class internal research structure, complemented by selected high-quality external research providers.
Generali Investments said it has come to this decision after an extensive analysis on the internal needs for external research, and a careful assessment of each potential research provider against these.
Therefore the manager defined an overall budget for all external research (macro, credit and equity), and decided to not charge clients for it.
Santo Borsellino, CEO of Generali Investments, said: “Mifid II will undoubtedly have an impact on the whole asset management business, and research is a vital part of it. As such, we have been working hard to be fully prepared, weighing all the options and ultimately choosing the solution that best fits the interests of our clients. In fact, by combining our significant in-house capabilities with the research we purchase externally, we will continue to offer them a very high-quality service, with no additional charge.”