In an attempt to create a structure for the provision of easily understandable fund disclosures, Directive 2009/65/EC on UCITS IV and Commission Regulation 583/2010 has replaced the simplified prospectus with the Key Investor Information Document (“KIID”).
The UCITS IV Directive sets out the framework for the KIID, a stand-alone, pre-contractual, two-page document containing the essential features of the fund. KIID is to be systematically provided to investors before they make decision to invest.
The main objectives of the KIID remain the same as for the simplified prospectus: provide retail investors with better disclosure, easier to understand content and, to facilitate comparisons between investment products.

Other UCITS related terms