Key Investor Information
- What are Key Investor Information Documents (KIIDs)?
In an effort to improve investor information, the European Legislation states that with effect from 1st July 2012, fund managers must produce a standardised summary information document called the Key Investor Information Document (KIID).
- Why are the KIIDs being introduced?
KIIDs are being produced to ensure information is available to you as an investor consistent across all funds governed by this Regulation. KIIDs will replace the existing Simplified Prospectus and will allow for a simpler comparison of funds. The KIID sets out the essential characteristics of a fund's share class necessary for you to understand the nature and risks of the fund being offered and to make an informed investment decision.
- Will there be any changes to how the funds are managed?
No, there are no changes to the way the funds are managed.
- Which funds are affected?
All Undertakings for Collective Investment in Transferable Securities (UCITS) funds (most common category of funds sold in the EU).
- Will all of your funds have KIIDs?
Yes, AXA Investment Managers will produce a KIID for each of the funds and their shares or unit classes registered for sale in the UK.
- How often will the KIIDs be updated?
Each KIID must be updated annually, within 35 business days of year end, to include updated performance data to the end of the previous calendar year. Further updates may be made throughout the year if there are material changes about the fund such as a change in: name, charges, investment objective or policy. The risk and reward profile of the fund will be monitored on an ongoing basis. If, over a 90 day period, the fund's profile changes, a revised KIID will automatically be produced to reflect the change.~
- Do I need to take any action?
For existing investments, no action needs to be taken by you.
How the change to KIIDs impacts me
- Will the change to KIIDs impact how I buy shares or units in the funds in the future?
Yes, effective 6th June 2012, AXA Investment Managers has replaced all Simplified Prospectuses with KIIDS, the way in which you invest will change. You will need to confirm that you have been provided with and have read the most recent KIID for each share or unit class of the fund that you wish to invest in. We will not be able to act on your instruction without this confirmation. We will also provide you further information with a Supplementary Information Document (SID). Confirmation that you have been provided with and have read the relevant KIID will be required for the following:
Lump sum investment
Regular monthly savings (Initial set up and increases in monthly contributions)
Top ups to existing investments
Switches between funds
- How can I obtain the latest version of the KIID for the fund and share or unit class I wish to invest in?
Visit our Fund Centre and and choose the fund you are interested in by clicking on the link. In the fund profile page you should select the "Literature" tab. All available literature for the fund is available from this page. You can also contact us on 0345 777 5511 to receive a printed copy.
- How can I confirm that I have read the KIID?
If you invest by phone, you will be asked to confirm that you have been provided with and have read the relevant KIID for the fund and share or unit class you wish to invest in. If you invest by post, you must sign the declaration on the application form to confirm that you have been provided with and have read the most relevant KIID. If you cannot confirm this, the deal cannot be processed. You will then be sent a KIID by e-mail or by post.
- What if my questions are not covered by the KIID?
Alongside the KIID, a Supplementary Information Document (SID) will also be made available to you with additional information about our fund range. The full Prospectuses of all the funds are also available free of charge by contacting us on 0345 777 5511.
If you would like any additional information about the changes, contact us on 0345 777 5511.