From next year, the sale of almost any packaged investment product to private investors must be preceded by a key information document or 'KID'. Mikkel Bates offers a guide to how advisers can explain it to clients
As of next year, as we all know, the sale of almost any packaged investment product to retail investors must be preceded by a key information document. While a KID is intended to provide the salient information a customer should know before deciding whether to invest, it is worth knowing what it actually tells you. First, however, some scene-setting - just what is a packaged retail and insurance-based investment product or ‘PRIIP'? There is no definitive list but the relevant regulation says a PRIIP is "where, regardless of the legal form of the investment, the amount repayable to the...
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