UK-based Frost Consulting has rolled out a new research valuation & budgeting software platform to help asset managers to set up a monetary value for unpriced research products and construct research budgets that meet the pending regulatory requirements of Mifid II.

Dubbed as FrostRB, the platform delivers a transparent and comprehensive research valuation, budgeting and reporting framework that generates multi-asset class research budgets down to the fund level.

The platform aligns research budgets and actual fund investment processes directly, demonstrably supporting the investment objectives mutually agreed by the asset manager and the asset owner.

Using FrostRB, asset managers can maximize return-on-investment on research spending, thereby adding to alpha generation.

MiFID II will require all asset managers in Europe to inform asset owners in advance as to their portion of the anticipated research budget. According to Frost Consulting, asset managers spend some $20bn annually of commission on external research.

Additionally, the new platform provides a complete multi-asset class solution that harmonises research budgets between equity and fixed income portfolios for multi-asset products, thereby eliminating cross-asset class research subsidisation.

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Frost Consulting Principal Neil Scarth said: "We are very excited to be launching FrostRB to help asset managers create, and demonstrate, better investment outcomes for asset owners."

"FrostRB will drive competitive advantage for asset managers as well as provide greater transparency and accountability for asset owners with an interest in maximizing the ROI on their research spend."