FSA renews pressure on equity research
Regulation isn’t the only factor driving unbundling. For some fund managers it is simply about performance and common sense.
Norges Bank Investment Management (NBIM), which manages the NOK 940.7 billion ($148.1 billion) Norwegian state petroleum fund, is a leader in the field of monitoring its transaction costs and in using objective means to make commission allocation decisions.
“When the fund started investing in equities in 1998, we knew that given its size and large cash flows that transaction costs were always going to be something that we’d have to watch tightly,” says Stephen Hirsch, COO of NBIM.
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