Why the KIIDs may not be alright

In July this year it became compulsory for all UK-authorised UCITs funds to produce a Key Investor Information Document (KIID) alongside their existing full and simplified prospectuses and fund fact sheets. The KIID replaces the simplified prospectus as the first port of call for any investors selecting funds and aims to be free of complex descriptions and jargon. Unlike the simplified prospectus, advisers must provide their clients with the KIID before they invest in a fund. The client will then have to verify they have seen the document. This clearly had implications for investors w...