RL360's International Investment jargon buster

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Key Investor Document (“KID”)
Introduced under the Isle of Man regulator Conduct of Business rules, a Key Investor Document (KID) is a product related, investor-specific document which must be produced at point of sale from 1 July 2019 onwards for all long term insurance products that have an investment element. Generally no longer than 3 pages long, the content should contain all the main features of the product being sold, any associated risks, a disclosure of the fees and charges relating to its sale, any cooling off rights, the minimum holding period if there is one and anything the investor needs to know about the consequences of surrendering their policy in part of full. The investor will be required to sign the document to confirm they have read its content and still wish to proceed with taking out the policy.

Key Investor Information Document (“KIID”)
Fund groups who market their funds for sale within Europe must produce a document for each fund (at share class level) called a Key Investor Information Document (KIID). Acting as a simplified prospectus, and around 2 pages long, the KIID has to be laid out in a standardised format which will allow investors to compare funds side by side. The purpose of the document is to provide information to retail investors in a straightforward and easy-to-understand format but which delivers critical information about the fund including its fund objective, charges information, past performance history and its risk and reward profile to help them decide if a fund is right for them.