Asia fund houses eye Mifid impact on research

Asset managers in Asia have begun addressing the likely impact of Europe’s Markets in Financial Instruments Directive II (Mifid II), which is set to have a big impact on how research is paid for well beyond the EU’s borders. On April 1, First State Stewart Asia (FSSA) became the first investment management team to announce it will stop paying for brokers’ research and advisory services out of client dealing commissions. The team, under Australia’s Colonial First State Global Ass…