Changes to how you invest with M&GM&G replaced the Key Features (Incorporating the Simplified Prospectus) with Key Investor Information Documents (KIIDs) on 17 February 2012. This is to align our processes with new European regulations.
Q. What is a KIID?
Q. What is the difference between a KIID and the KFD?
Q. Why did this change happen?
Q. When did this change happen?
Q. How has this impacted the investment process?
Q. How does this benefit investors?
Q. Were there any changes to investments?
Q. What if you haven’t received the KIID for the fund you wish to invest in?
The KIID is a two page document describing the key information you need to know about a Fund before you invest, such as the nature of the Fund, its charges, and the risks associated with investing into it. Information contained in the KIIDs is required by law and enables easy fund comparison across different asset management companies. Each share class of every fund will have a KIID.
Q. What is the difference between a KIID and the Key Features?
Whereas the Key Features encompassed the entire fund and product range, KIIDs are produced for each individual share class for every fund and supplied as separate documents. There is also an accompanying document called ‘Important Information for Investors’, which provides further information about our funds, details of how to invest, and also our terms and conditions. You should read this in conjunction with the KIID for the fund of your choice to help you make informed decisions about your investments.
Q. Why did this change happen?
In order to continue to sell our funds in the UK and Europe we need to ensure the relevant KIID and the Important Information for Investors document is provided to all investors prior to investing. From 17 February 2012 it is a mandatory requirement for us to provide you with a KIID for each fund you wish to invest in. This change is to comply with new European regulations ahead of the 1 July 2012 industry deadline when all firms will be required to do this by law.
Q. When did this change happen?
We implemented KIIDs on 17 February 2012. The Key Features no longer exist for our OEIC and unit trust funds and has been replaced with KIIDs.
Q. How has this impacted the investment process?
We will now need to confirm that you have received the relevant KIID for each share class of a fund in which you want to invest, before we can accept your application. We are not able to accept your instruction without this confirmation. We also need to provide you with our Important Information for Investors document.
KIIDs, KIID application forms and the Important Information for Investors document are available from our website, or can be ordered over the phone or by writing to us. The new KIIDs and KIID application forms apply to all M&G OEIC/unit trust funds whether you are investing in The M&G ISA, The M&G Junior ISA, The M&G Savings Plan or into the funds directly.
Q. How does this benefit investors?
It is now much simpler for you to see the details of each fund at a glance. The regulations are designed to ensure customers have essential information upfront before they invest. The information is concise and specific, so it’s quick and easy to decide if the fund meets your needs.
Q. Were there any changes to investments?
We did not make changes to your investments, or how we manage them.
Q. What if you haven’t received the KIID for the fund you wish to invest in?
If we do not receive confirmation that you have received the KIID and the Important Information for Investors document, we will be unable to process your instruction and your investment will be rejected.
Any postal instructions received from 17 February 2012 that are not on KIID application forms will be rejected and returned to you. We will not accept telephone instructions without confirmation that you have received the relevant KIID and the Important Information for Investors document.
