What is a KIID?

What is a KIID?

Key Investor Information Document (KIID) definition The Key Investor Information Document (KIID) is a document that provides key information about investment funds, in order to help a potential investor compare different investment funds and assess which fund meets their specific needs.

What must be in a KIID?

The document must contain the following sections: o The funds objective and investment policy o Charges information o Up to 10 years of past performance history o Risk reward profile (includes the KIID risk rating) o Practical information such as the contact details of the fund house and important notes.

What is a PRIIPs kid?

The KID for PRIIPs is a mandatory, three-page A4 information document to be provided to consumers before purchasing a PRIIP. PRIIPs include for example funds, structured products, unit-linked and with-profits life insurance contracts, and structured deposits.

What is PRIIPs kid?

The Packaged Retail Investment and Insurance Products (PRIIPs) regulation requires a three-page Key Information Document (KID) when financial products (such as funds, structured products or unit-linked insurances) are sold to retail investors.

Does an AIF need a KIID?

Fully licensed AIFMs that market AIFs under the retail “top up” regimes and for UCITS managers will benefit from a transitional regime, requiring them to present the KIID only after 31 December 2019, as their current key investor information will remain valid until that date.

Is an ISA a Priip?

ISA (individual savings accounts) wrappers (although investments held within an ISA wrapper may be PRIIPs for which a KID is required) dealing/custody services which allow retail investors to purchase, hold and sell investments as legal or beneficial owner.

Is a unit trust a UCIT?

A unit trust may be authorised as a UCITS (in which case they must be open-ended). UCITS are subject to the UCITS regime (which includes the Central Bank of Ireland’s UCITS Regulations) and the provisions of the Unit Trusts Act 1990.

Who needs PRIIPs kid?

Since January 1, 2018, a KID is required for each subscription to an investment by a family office, high-net-worth individual or even ultra-high-net-worth individual, since the latter are considered retail investors unless they choose to be classified otherwise.

What is a Manco?

Property management companies (ManCos) are usually set up to manage communal areas of a shared property and the overall condition of the building for the benefit of the residents. The residents of the property are usually the directors and members of the company.

What are Priip products?

What is a PRIIP? A PRIIP is primarily an investment product where the amount repayable to the investor is subject to fluctuations because of exposure to reference values or to the performance of one or more assets which are not directly purchased by the investor.

Who owns the assets in a unit trust?

The trustee
In whose name are assets held by a Unit trust? The trustee is the legal owner of trust’s property. This means that trustee’s name should appear on all ownership documents, such as shares, managed funds, property etc.

What is a Priip kid?

A PRIIP KID is a mandatory, precontractual, standardised disclosure document, designed to give essential information about the PRIIP to the retail investors about the risks and rewards, in no more than three pages.

Are AIFs PRIIPs?

AIFs will therefore constitute PRIIPs for the purposes of the regime. The PRIIPs regime comes into effect on 01 January 2018.

What is a 3rd party ManCo?

The traditional third party model sees portfolio management being delegated back to the investment manager, and custody to a custodian but retains the core management functions of risk management, substance requirements and oversight.