‘If everyone moves one way you need to be careful’
Industry experts debated key issues at the Expert Investor Portugal event last week including big data overreach and whether Mifid II puts European asset managers at a disadvantage. Click though the slides to see images of the event and read related article.
Jupiter Asset Management’s head of alternative investments Magnus Spence is worried the legislation could create additional costs for asset managers operating in the EU that their US counterparts do not have to bear.
“In Europe, we now put the research we buy against our own profit and loss accounts [following the introduction of Mifid II in January this year]. However, asset managers in the US could in theory charge all of their research against their clients,” Spence said.
“As a result, they may have a significant advantage over European asset managers and that could be a problem.”
Spence was speaking at Expert Investor Portugal event in Lisbon last week which brought together leading fund managers and Portuguese fund buyers to debate key issues facing the industry.