ASSET MANAGEMENT
Mifid can give edge to early adopters
South African asset managers that at an early stage adopt Europe’s Markets in Financial Instruments Directive (Mifid) 2, intended to improve competition and investor outcomes in financial markets, may be at a competitive advantage. Asset managers globally were becoming "Mifid-aligned", even though this regulation applied only to fund managers with products in the EU, said Rebecca Healey, Liquidnet’s head of market structure and strategy in EMEA. The more asset managers that made the shift, the more indefensible it became to the end investor to not be aligned, Healey said on Monday. Liquidnet, the owner of the world’s largest dark pool, will meet some of SA’s largest asset managers this week. Liquidnet enables institutional investors to trade large buy and sell orders directly with one another away from public exchanges. It has 12 member firms in SA. One of the most noteworthy changes under Mifid 2 is "unbundling", which requires brokers to price research and execution separately, ra...
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