Executive Summary

This report provides detailed information from European-based equity investors including helpful benchmark data such as:

  • Expected changes in budget
  • Method of research payment by MiFID II compliant funds
  • Allocation of external budget by type of research provider
  • Average total research and advisory budget

This report provides detailed information on research budgets according to buy-side firms located in Europe investing in equities. Research is based on in-person and telephone interviews with 150 institutions in Europe in the 2018 Study. The data in this report is based upon aggregated results from individuals participating in the study.