This site uses cookies to provide you with a more responsive and personalized service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.

Bookmark Email Print page

UCITS KIID - Key Investor Information Document | Brochure


DOWNLOAD  

The UCITS KIID is designed to lead the way in investor information, protection and disclosure.

Context

UCITS KIID - Key Investor Information DocumentWith the UCITS KIID mandatory since July 2012, awareness of both its existence and its broad outlines may be taken as widespread within the relevant professional community. While its recognition and importance in the eyes of the investing community is perhaps more debatable, it is certainly now an integral part of the UCITS landscape.

Nevertheless there is still a lot of work to be done.

Key issues

The market overall welcomed the KIID as a net and evident improvement on the previous simplified prospectus.

Experience has indicated however that the exercise has proven more challenging, more costly and more complex than many had anticipated.

Certain divergences in interpretation are also emerging in national interpretation and the evolution of the document is now to be seen in the context of discussion around the draft KID Directive (previously PRIPS) and the sanctions regime of UCITS V.

Main challenges

The market has encountered issues in:

  • The complexity of co-ordinating the on-going KIID production across stake holders – KIID content producer (‘plain language’ texts, SRRI, on-going charges), fund registration team, product development, web master, sales and distribution, factsheet production, infrastructure providers, KIID dissemination platforms
  • Managing costs - In many cases where co-ordination resides in legal or compliance areas there is a significant hidden cost in the use of scarce resources
  • Ensuring quick turn-around times – the lack of efficiency, the divergence in interpretation of KIID rules across the various regulators and the current excessive workload to manage KIIDs can result in longer than necessary time-to-market if the production and filing processes are not suitably optimised

In addition, many non-EU jurisdictions require KIID-like documents, but each with their own specificities.

Our services

Deloitte has been in the forefront of the development of the UCITS KIID from the earliest consultative phase of UCITS IV.

We offer a full range of KIID services including:

  • An effective and cost-effective offering to manage your KIIDs with minimum workload on your side and optimal time-to-market
  • Our integrated services’ cover the front to back co-ordination of your KIID needs from concept to production, including ‘plain language’ drafting, SRRI production, KIID initial set-up, on-going KIID monitoring and updating, regulator communications, web publication, and distributor dissemination
  • Our solution is a flexible offering: you may pick and choose the KIID modules that you need – either stand-alone or fully integrated
  • Our KIID ‘factory’ is integrated within Finesti (the gateway to the CSSF) to allow an optimised operational set-up through higher quality and processing speed
  • Open architecture co-ordination and quality control services

How can we help?

Within the full range of services we can:

  • Benchmark your current process to market best practice on cost, process and content
  • Design the appropriate operating model for your company and implement it
  • Minimise the cost and operational impact of implementing the PRIPS KID Directive
  • Co-ordinate your on-going process from start to finish, de-risking your business and allowing your internal specialists to concentrate on their true priorities
  • Ensure you are always up-to-date and cost effective
  • Integrate the KIID process into your cross-border distribution

Page Last Updated

Share

 

Stay connected:
Get connected
Share your comments
More on Deloitte Luxembourg
Learn about our site

Recently published