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Starting on July 1st 2012, within the UCITS IV Directive, the European Commission has decided to replace the simplified sales prospectus by the Key Investor Information Document (KIID). This new informative document should provide to investors on a 2 or 3 page document all the standardized, structured and easy to access elements needed. Investors will find details regarding the five fixed categories of investment: strategy, fees, NAV calculation, risk profile and relevant additional information (i.e. website, contacts...).
By avoiding some technical vocabulary, the KIID will be easy to understand and will provide investors with data likely to be compared with other fund’s documentations. As is it compulsory to publish the document in at least one of the respective...
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