BETTER FINANCE publishes its response to the ESAs Joint Consultation on in Key Information Documents for Packaged Retail and Insurance-based Investment Products (PRIIPs).
The strong need for simple and short pre-contractual information on objective costs and charges as well as historical real returns that enables retail investors to reach well-informed investment decisions cannot be emphasised enough.
BETTER FINANCE is also concerned that standardized, easily comparable data on historical performance (of both the product and of its benchmark) would be eliminated under the PRIIPs Regulation. Whereas some improvements in the KID for investment funds (UCITS) have been achieved in the past, the PRIIPs Regulation as it stands may even eliminate this key information from the KID for UCITS funds within the next 5 years.
Please read our full position here.