First State Stewart Asia has stopped charging clients for research and will pay for broker research and advisory services from its own accounts.
As such, all of the portfolios managed by the First State Stewart Asia team switched to execution-only dealing charges on 1 April.
The firm says: “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.”
In February Jupiter announced it will be putting research costs through its accounts as of next year, following in the footsteps of Woodford IM, Baillie Gifford and M&G.
First State Stewart Asia, part of First State Investments, is the Hong Kong and Singapore-based Asian and Greater China equities investment team with $22bn in assets under management.