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Pressure rises ahead of KIID deadline
07 June 2012
The deadline for Key Investor Information Documents is fast approaching. But there is still a lot of work to be done, finds Paul Golden
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KIID
Fund managers have their work cut out to meet the July 1 2012 deadline for introducing key investor information documents (KIIDs) and figuring out how to cover the additional costs of these new documents. The KIID provision of UCITS IV requires that all funds produce a standard two page document that sets out transparently and in plain language the investment objectives, risk factors and other relevant information, enabling an investor to make a balanced investment decision.
Luxembourg stock exchange subsidiary Finesti has stated that around 300,000 documents will need to be produced to cover the Luxembourg funds market alone, while Deloitte estimates that the more than 3,500 regulated funds (many distributed in multiple jurisdictions) domiciled in the country could require as many as half a million KIIDs. Add to that the fact that many promoters with fund complexes domiciled in Luxembourg also have ranges in Dublin and the UK and...
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