Since the introduction of the Key Investor Information Document (KIID) in Europe in mid 2012 and the introduction of the Key Facts Statement in Hong Kong and the Product Highlight Sheet in Singapore, the focus has shifted from document creation to document dissemination. Since then, some service providers have included this service (referred to as “KIID dissemination”) in their sales programme, bringing it to the attention of fund companies and distributors such as banks and fund platforms.
Vast number of Key Investor Information Documents to be processed
The deadline for supplying Key Investor Information Documents (KIIDs) is 1.7.2012, by which date the new documents must be available* for all funds sold in Europe. Given that KIIDs are produced for each ISIN and country individually, fundinfo is currently receiving an avalanche of documents that need checking and uploading in the shortest possible time frame.
While the average number of fund documents processed daily up until the end of 2011 was 4,000, the figure has rocketed to more than 60,000 documents per day in recent weeks: Many fund providers have decided to take full advantage of the one-year transition period and prepare and supply the new documents just a few weeks—or, in some cases, days—before the deadline.
fundinfo and Finesti work closely together to improve the quality of service and convenience offered to their joint clients, whereby fundinfo deals primarily with dissemination of fund documents to distributors, and Finesti primarily with notification to financial market authorities.
Finesti and fundinfo have announced that they are combining their respective expertise in investment fund data and documents to offer services intended to facilitate cross-border notifications and the dissemination of Key Investor Information Documents (KIIDs).
fundinfo has developed a standard solution for easy distribution of KIIDs and other fund documents in collaboration with other reputable service companies from the investment fund industry. The application is available free of charge to all interested fund companies and fund service providers and can be downloaded here:
fundinfo is proud to announce the launch of its new platform for KIID Dissemination http://kiid.fundinfo.com/en/home/.
Are you familiar with our distribution service for Key Investor Information Documents (KIIDs)…
- in more than 20 countries,
- for KIIDs in more than 20 languages, and
- with a subscription service, push email and tracking reports?
Collection and distribution of original fund documents is our core business. For more details, please read our latest newsletter (special edition) “KIID Distribution” or visit our website kiid.fundinfo.com.