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KNEIP first to offer automated dissemination of UCITS IV written notices to EEA regulators

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KNEIP has become the first service provider to offer automated dissemination of UCITS IV written notices to accompanying Key Investor Information Documents (KIIDs) on behalf of clients. KNEIP’s system is sanctioned by Luxembourg-regulator CSSF and is capable of managing the dissemination and monitoring of regulatory documents to 30 European Economic Area countries.



In a cornerstone agreement, KNEIP was recently appointed by a leading European asset management company to translate, produce and disseminate nearly 1,000 KIIDs for its Swedish, Luxembourgish and Finnish domiciled funds. KNEIP has already been mandated for the production of over 60,000 KIIDs and the dissemination of over 125,000 KIIDs, with many more on the way. Written notices will be a regular part of every one of these funds’ lives. 



Since July 2011, all funds must proceed with their cross-border registrations for distribution in host EU Member States via their home regulator; following the new UCITS IV simplified notification procedure. Throughout the rest of the fund’s lifecycle, asset managers must then file, publish and disseminate each new or revised KIID in all required languages, specifically:

Each existing KIID must be revised at least once a year to update past performance


Each revised KIID must be filed alongside a UCITS IV written notice to each host regulator in any country of distribution prior to any publication or distribution


KIIDs must be revised following any changes in the Objectives and Investment Policy



In terms of cost impact, UCITS IV written notices have a much greater impact than initial notifications. Given the global popularity of UCITS funds, finding a cost-efficient solution to this process becomes paramount when distributing funds in multiple distribution jurisdictions.



Yves Tambour, Product Specialist at KNEIP, says: “While the new UCITS IV notification procedure has garnered much press and industry attention lately, a less-publicised reality looms just under the surface that will have a much bigger impact long-term on funds than initial fund notifications.



“We can’t stress enough the importance of focusing not only on initial fund registration, but in preparing for the entire fund lifecycle with a solution that brings long-term savings through economies of scale and reduced cost per share.”

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