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Deutsche Asset Management to cover MiFID costs

Deutsche Asset Management, the €711bn fund arm of the German bank, plans to stop charging investors for analyst research when sweeping new European rules come into force next year.

In a memo to staff, seen by the FT, Nicolas Moreau, head of Deutsche Asset Management and a member of the management board at Deutsche Bank, says: “The decision ensures that our clients will not be burdened with additional costs – and that they can easily and clearly understand the pricing of our funds.” 

The German fund house said it would cover the cost of investment research, such as analyst notes, from its own profit and loss account, rather than pass the cost on to its clients.