KIFCs

KIFCs, or Key Information for Funds, are a set of standardized documents required by the European Securities and Markets Authority (ESMA) for all collective investment undertakings (UCITS) and alternative investment fund managers (AIFMs) operating within the European Economic Area (EEA). These documents aim to provide investors with clear, concise, and comparable information about the fund, its risks, and its charges.

The KIFCs consist of several key documents, including the Key Investor Information Document (KIID), the Prospectus, and the Fund Factsheet. The KIID is the primary document that must be provided to all investors, regardless of their level of experience. It contains essential information about the fund, such as its objectives, risks, and charges, as well as information about the fund manager and the fund's governance.

The Prospectus is a more detailed document that provides additional information about the fund, including its investment strategy, portfolio composition, and performance. It is intended for professional investors and is not required to be provided to retail investors.

The Fund Factsheet is a concise document that provides a snapshot of the fund's key features, including its total expense ratio, minimum investment, and distribution policy. It is intended to be used by investors to quickly compare different funds.

The KIFCs are designed to be user-friendly and accessible to all investors, regardless of their level of experience. They are also designed to be comparable, allowing investors to easily compare different funds and make informed investment decisions. The KIFCs are subject to regular review and update by ESMA to ensure that they continue to meet the needs of investors and the regulatory environment.