KIID

A KIID is a document, the content and presentation rules of which are uniform across all the various countries of the European Community. The KIID replaces the simplified prospectus and presents the essential characteristics of a fund. This information will enable investors to understand the nature of the product proposed, the risks associated with it and to make their decisions in an informed way.

This document, limited to two pages, will contain the following information:

• Description of the objectives and the investment policy,
• Risk profile and performance of the fund,
• Related costs and charges,
• Historical record of performances,
• Practical information.

1. The identity of the fund and the name of the management company;
2. A clear and simple description of the investment objectives and policy;
3. The risk and reward profile of the fund, in the form of a numerical scale in which 1 represents a lower risk and 7 a high risk. This grading is accompanied by text providing the appropriate guidance and warnings on the risks associated with investing in the fund concerned;
4. A table presenting the charges incurred by the fund in the last financial year;
5. A histogram covering a 10-year period (for periods of at least one year) in which past performance is presented;
6. Practical information: The name of the custodian; Where and how further information can be obtained about the proposed investment and in which languages this is available;

• The UCITS IV directive thus introduced the KIID in order to offer investors clear and precise information and a more legible and uniform document for investors.
• Its common, standardised format facilitates comparison between the funds.

The UCITS (Undertaking for the Collective Investment In Transferable Securities) directives include all the UCITS directives of the European Union, enabling these transferable securities portfolios to circulate freely within the EU.

UCITS I dates from 1985. This directive introduced the notion of “European passport” by virtue of which a fund approved in one country may, after being reported to the authorities of the country of distribution, freely exchange its shares in the other countries of the EU.

It is to this directive and to this notion of “European passport” that reference is made when we speak of a UCITS fund (section I of the law).

The KIIDs must normally be supplied in the language of the country in which the fund is distributed. For example, in Luxembourg the KIIDs must exist in at least one of the four languages: French, English, German and Luxembourgish.

In any event, the KIID shall be made available in the various languages according to the inputs of the Asset Manager.

When you subscribe to a UCITS fund or when you open a Flexicav for a UCITS fund, a link to the page containing the KIID document and the simplified prospectus will be available. You must acknowledge having read the KIID before being able to confirm your transaction.

The information and the link do not appear in the event of sale or redemption of a UCITS fund.

The information and the link do not appear when a UCITS fund is not involved.​

You may access a defined UCITS fund universe via a BIL customised web interface, the generic link of which is located https://www.bil.com/kiid/recherche.

The search is done on the ISIN code of the UCITS fund sought.

For any additional questions relating to the KIID or its conditions of application within our bank, you may contact the Hotline on +352 4590-1 or if you’re in Belgium, on +32 (0)2 740 4512.​​​​