First State Stewart Asia has moved to a pricing model where research and advisory costs are no longer paid from client dealing commissions.
As of 1 April, all broker-related research and advisory services will be paid by making separate payments directly from the firm's own resources. As a result, all portfolios managed by the First State Stewart Asia team will move to execution-only dealing charges. The firm said: "This change reflects what we believe is in the best interests of the clients of First State Stewart Asia and will help to meet the requirements of the changing regulatory environment; in particular MiFID II." MiFID II research unbundling to increase M&A pressure on small/mid UK managers First State Stew...
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