Key investor information document (KIID)

The UCITS IV Directive (UCITS = undertakings for collective investment in transferable securities) stipulates that the key investor information document (KIID) is a mandatory component of the product information for all mutual funds. KIIDs must comply with strict formal and content requirements and contain as their core elements information on the funds’ investment objectives, risk, costs and past performance.

KIIDs are updated once a year or if there are changes to material parameters such as risk. Fund managers are also obliged to provide the current version of the KIID to end customers via their sales partners or the fund’s website before a contract is signed.