Скачать или смотреть The Key Investor Information Document

What is a KIID?

In an attempt to create a structure for the provision of easily understandable and engaging fund disclosures, Directive 2009/65/EC on UCITS IV and Commission Regulation 583/2010 has replaced the simplified prospectus with the Key Investor Information Document (KIID).

The simplified prospectus was often simply just a “copy/paste” of the full prospectus, with poor design, full of technical terms and lengthy. Due to lack of direction and guidance, the simplified prospectus became an administrative burden with material variations across member states with no real investor benefit.

The main objectives of the KIID remain the same as for the simplified prospectus – provide retail investors with:

better disclosure,
easier to understand content and,
to facilitate comparisons between products.

The key differentiating factor is that under UCITS IV, the European Commission was obliged to adopt implementing measures clearly defining the KIID’s scope and nature.

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