Asian fund firms respond to UK fee clampdown
The UK clampdown on commission payments is having an impact on Asian fund managers. Some observers think private meetings paid for out of client fees will become obsolete.
Some Asian asset managers have been reviewing the way they pay brokers after a directive from the UK's Financial Services Authority late last year banned explicit payment for corporate access.
The move affects Asian asset managers with operations in the UK or with a high number of UK-based clients – they must now align their commission payment practices in Asia. Several of these firms tell AsianInvestor they are looking at how to respond.
And while the letter sent by the regulat…
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