Pimco joins Vanguard and JPMAM in absorbing research costs

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Pimco has followed in the footsteps of its US rivals Vanguard and JP Morgan Asset Management to announce it will absorb research costs under Mifid II.

The California-headquartered bond manager would not comment on the hit to revenues, Financial News reports.

JPMAM confirmed last week it would absorb the costs when the European regulation comes into place at the start of 2018.

It followed hot on the heels of Vanguard, which was the first major US asset manager to make an announcement on its research plans under Mifid.

Vanguard anticipates it will take a $5m hit from the changes.