As you may or may not be aware, new and stricter rules (known as MiFID II) do not allow financial services firms to provide research free of charge any longer, and the new rules are limiting my ability to write about specific investment opportunities without charging a fee for it.
Consequently, we have decided to change our business model a little bit. The Absolute Return Letter, which has always been made available to the public at no cost, will continue to be freely available but, as it is subject to the MiFID II rules, specific investment opportunities will never be discussed in those letters. That would turn the Absolute Return Letter into research under the MiFID rules, and we would have to charge a fee.
For those of you keen to know more about how our thinking is translated into explicit investment opportunities, we will soon be rolling out an add-on service (which we call ARP+), for which we will charge £300 annually. By doing it this way, we can share our investment thinking and still comply with the MiFID rules.
For £300 per annum you will receive the following:
1. At least 6 Absolute Return Observations every year. These papers, which we have produced since 2015, dig deeper on specific invest opportunities which we, under the MiFID II rules, have to charge for.
2. Access to all previous Absolute Return Observations on request (of which there are about 40). All subscribers to the new ARP+ service will receive a list of what is in the archives, from which you can pick and choose.
3. Quarterly webinars with Niels, where he will review relevant investment topics.
Clients of the ARP+ service will have access to a wealth of information that is not available to subscribers of the Absolute Return Letter, and we believe you will find that quite exciting.
If you are a long-term reader of the Absolute Return Letter, you will know that eight megatrends, which we have identified over the years, drive pretty much everything we do at Absolute Return Partners. The eight megatrends are as follows: