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Article 411-107 into force since

  • Version into force since
ELI : /en/eli/fr/aai/amf/rg/article/411-107/20230101/notes

The key investor information document drawn up pursuant to Point I of Article 411-106, the content of which is pre-contractual, shall meet the following requirements:

  1. The words "informations clés pour l'investisseur" shall be clearly stated in French.

  2. It shall contain accurate, clear, non-misleading information that is consistent with the relevant parts of the UCITS prospectus.

  3. It shall contain appropriate information about the essential characteristics of the UCITS that is to be provided to investors so that they are reasonably able to understand the nature and the risks of the UCITS that is being offered to them and, consequently, to take investment decisions on an informed basis.

  4. It shall contain information about the following essential characteristics of the UCITS and of the competent authority of the UCITS:

    1. Identification information;

    2. A brief description of the fund's investment objectives and policy;

    3. A review of past performance and, where applicable, performance scenarios;

    4. Costs and associated charges;

    5. The risk/reward profile of the investment, including appropriate guidance and warnings about the risks associated with investments in the UCITS.

      These essential elements shall be comprehensible to the investor without any reference to other documents. This information shall be kept up to date.

  5. The key investor information document shall clearly specify where and how to obtain additional information about the proposed investment, including where and how the prospectus and the annual and half-yearly reports may be obtained on request and free of charge at any time, and the language in which such information is available to investors. It shall also include a statement to the effect that the details of the up-to-date remuneration policy are available by means of a website. These details include:

    1. A description of how remuneration and benefits are calculated, the identity of persons responsible for awarding the remuneration and benefits;

    2. The composition of the remuneration committee, where such a committee exists.

    The statement shall include a reference to that website and indicate that a paper copy will be made available free of charge upon request.

  6. The key investor information document shall be written in a concise manner and in non-technical language.

  7. It shall be drawn up in a common format, allowing comparison with other UCITS.

  8. It shall be presented in a manner that is likely to be understood by retail customers.

  9. The key investor information document is to be used without alterations or supplements, except translation, in all Member States of the European Union or all the States party to the European Economic Area agreement where the UCITS is notified to market its units or shares in accordance with Article 411-137.