ESMA_QA_1082

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1082

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Regulatory Context

Regulation : UCITS

Level 1 Regulation: Undertakings for Collective Investment in Transferable Securities Directive (UCITS) Directive 2009/65/EC

Level 2 Regulation: No information available

Level 3 Regulation: No information available

Topic: Disclosures

Subject Matter: Communication of KIID to investors

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Question

Submission Date: 01 September 2012

Should existing investors within a UCITS umbrella fund, who switch or exchange units in one sub-fund for units in another, be provided with the KIID for the sub-fund in which they are going into?

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ESMA Answer

Answer Date: 01-09-2012

[ESMA 34-43-392 UCITS Q&A, section 2, Q&A 2b] Yes. As a pre-contractual document, the investor must receive the KIID for the sub-fund they are going into including where this investment arises from switching from another sub-fund within the umbrella.

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This document was automatically extracted from the ESMA EMIR Q&A database.