Since 2018, investors in the EU have received a basic information sheet with the most important features, such as the costs and risks of an investment, before purchasing a packaged retail and insurance-based investment product (PRIIPs; this includes funds, capital-forming life insurance policies and certificates). However, retail funds may make an exception to this until the end of 2022. Until then, the established "key investor information" will apply to them.
The UCITS KID will be replaced by the PRIIPs KID on 1 January 2023. So, there will be no coexistence of PRIIPs and UCITS KIDs for a fund with different information.
The BVI supports the comprehensive review of the PRIIPs Regulation planned by the European Commission for the first half of 2022. This should focus on a comprehensive alignment of information for investors with the MiFID II and the Insurance Distribution Directive.