JP Morgan Asset Management has moved swiftly with an announcement this week that it has gone live with Key Investor Information Documents (KIID) for its Lux-domiciled suite of UCITS funds.
JP Morgan Asset Management has moved swiftly with an announcement this week that it has gone live with Key Investor Information Documents (KIID) for its Lux-domiciled suite of UCITS funds. Available as of 16 April 2012, they are thought to be one of the first global asset managers to fully implement KIID ahead of the 1 July 2012 deadline. Introduced under UCITS IV, the KIID is replacing the existing simplified prospectuses and requires fund managers to use non-technical language to provide details covering five key areas of content. They include: charges for the fund, objectives and investment policy, risk/reward profile, past performance and practical information. In order to comply with the regulation JPMAM has produced 18,000 documents covering 193 funds, spanning 1,400 active share classes in up to 14 different languages. As well as being able to download the documents directly from JPMAM’s European websites, the firm is also proactively providing distributors and clients across Europe with the KIID. Commenting on the work involved in launching KIID, Jon Griffin, head of fund services for Europe at JPMAM said: “Bringing in the KIID has been a huge and complex undertaking so it is with great satisfaction we are able to deliver this new investor document well ahead of the July deadline.”
