First Eagle Investment Management to Absorb Costs of External Research
First Eagle Investment Management announced today that effective January 3, 2018, it will absorb the costs of all external research purchased by First Eagle investment teams.
Industry practices regarding payments for external research are evolving due to the Markets in Financial Instruments Directive II (MiFID II), an EU directive requiring the unbundling of external research costs from trade execution costs. As a result, asset managers worldwide have been considering whether to pass the costs of external research to their clients or to pay them from their own resources.
“While our firm is not subject to MiFID II, we believe that this part of the directive points the way forward for our industry,” said Mehdi Mahmud, President and Chief Executive Officer of First Eagle Investment Management. “To be equitable and consistent across our entire client base, we have decided to use our own resources to absorb the costs of external research purchased by First Eagle investment teams for all our clients worldwide.”
Matt McLennan, Portfolio Manager and Head of the Global Value Team, added, “As active, fundamental investors, we rely above all on proprietary in-house research, but on a selective basis, we use external research to help supplement our thinking. The quality of our portfolio management decisions depends on the depth of our analysis, and we will continue to invest in internal and external research for the benefit of our clients’ portfolios.”
About First Eagle Investment Management
First Eagle is an independent investment management firm dedicated to active investing, with approximately $116 billion in assets under management as of September 30, 2017. Over a long history dating back to 1864, First Eagle has helped its clients avoid permanent impairment of capital and earn attractive returns through widely varied economic cycles—a tradition that is central to its mission today. First Eagle’s investment capabilities include equity, fixed income and multi-asset strategies. For more information, please visit www.feim.com .
Private equity funds owned by The Blackstone Capital Partners and Corsair Capital own a majority stake in First Eagle Investment Management.
For First Eagle Investment Management
Hedda Nadler, +1-212-759-4440
Information om Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Følg pressemeddelelser fra Business Wire
Skriv dig op her, og modtag pressemeddelelser på e-mail. Indtast din e-mail, klik på abonner, og følg instruktionerne i den udsendte e-mail.
Flere pressemeddelelser fra Business Wire
SMARTSTREAM-TECHNOLOGIES20.3.2019 10:02:13 CET | Pressemeddelelse
SmartStream Partners with Cassini Systems to Help Firms Meet Uncleared Initial Margin Obligations
MUNDIPHARMA20.3.2019 09:07:06 CET | Pressemeddelelse
Mundipharma Announces Launch of INVOKANA® and VOKANAMET® in Norway for the Treatment of Type 2 Diabetes as Part of Exclusive Distribution Agreement with Janssen
ONMINERS-S.A20.3.2019 08:02:11 CET | Pressemeddelelse
OnMiners Mining Rigs Offering the Biggest Hash-Rate in the Market
HKTDC-HONG-KONG-HOUSE20.3.2019 04:19:06 CET | Pressemeddelelse
HKTDC Hong Kong Houseware Fair Opens in April
GSMA20.3.2019 04:02:05 CET | Pressemeddelelse
New GSMA Study: China’s Mobile Ecosystem Equivalent To 5.5% Of China’s GDP
RIMINI-STREET20.3.2019 00:02:12 CET | Pressemeddelelse
Rimini Street CEO Visits Seoul, Addresses Changing IT Mission
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter samt finde vores kontaktoplysninger.Besøg vores nyhedsrum