The European Securities and Markets Authority (ESMA) has published a Q&A on the Key Investor Information Document (KIID) for UCITS.

The Q&A aims to promote common supervisory approaches and practices in respect of the KIID. The Q&A covers:

  • Preparation of KIID by UCITS that are no longer marketed to the public or by UCITS in liquidation.
  • Communication of KIID to investors.
  • Treatment of UCITS with share or unit classes.
  • Past performance.
  • Clear language.
  • Identification of the UCITS.
  • Questions on the practical application of any of the UCITS requirements may be sent to the following email address at ESMA.