MiFID II has changed the research landscape globally.

Issue:

Managers need to know how their multi-asset class research spending (at the strategy/fund level) compares to their peers in order to:

• Inform discussions with increasingly interested clients/regulators.
• Inform internal discussions on optimal research spending levels per strategy for P&L managers.
• Determine/Analyze Research ROI, both internally and externally.

The Solution: Frost Research Spending Database

• Being launched globally after it’s beta phase.
• 18 months in development with ~300 asset managers and more than 1,500 strategies on the system (1Q 2018)

Process

• Managers complete a secure online template. Creates very granular data outputs against specifically defined peer universes.
• Each budget submission is classified on 11 high-level variables and up to 200 sub-variables to facilitate comparison with similar products from managers with a variety of spending methods.

Deliverable

• For each fund/strategy budget submitted, managers will see how their research spending compares to their direct peers via an index of anonymized, aggregated data adjusted for the categories above, and
• Further refined by Firm/Strategy AUM, Domicile, Payment Type (P&L versus Client Money), Target Market

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