Under the headline “Fund houses seek direct contact”, BöZ examines the consequences of MiFID for research. It is well known that research has to be paid for since 2018. If investment banks organise access to companies for investors, this service must also be paid for in the meantime. Large fund houses such as Blackrock, DWS and Fidelity do not fully acknowledge this and have therefore set up their own teams for company access. Smaller houses have to stretch out enormously – and pay for it. Small asset managers and boutiques are even afraid of not being informed about potential meetings if they are not already research clients of a broker. This is also an opportunity for MDAX and SDAX companies to target such investors.