KIID Information

BlackRock publishes KIIDs for the BlackRock Institutional Cash Series Funds (ICS) fund range. The Simplified Prospectus is no longer available from 28 May 2012.

 

Background to UCITS IV and the introduction of KIID documents in 2012

 

One of the key regulatory requirements of the UCITS IV Directive is to ensure that all investors receive a KIID for the relevant UCITS fund before an investment is made. The KIID, which follows a prescribed format, is a two page disclosure document and replaces the Simplified Prospectus.

Unlike the Simplified Prospectus, the KIID is a pre-contractual requirement and so must be received by your clients before they invest. As an intermediary that offers investment advice or sells UCITS funds, you will be required to ensure that your clients receive the relevant KIID(s) before investing. This includes retail, professional and institutional clients.

 

Existing investors who do not make additional investments do not need to receive a KIID. New investors, including existing investors who choose to invest in a different share class and/or choose to make further investments in a share class they have already invested in of the same fund, need to receive the relevant KIID before investing.

 

When and how will BlackRock make KIIDs available?

 

BlackRock will publish KIIDs for every share class in the ICS fund range on 28 May 2012. The Simplified Prospectus will no longer be available from this date. You will find these KIID documents on our dedicated BlackRock KIID website, and then by navigating to the appropriate European country. The website will have a function to allow you to ‘subscribe’ to specific share class KIIDs and receive automatic email updates as these KIIDs are updated on our website. Individual hard copies of these KIIDs can also be obtained by contacting the telephone numbers listed below (processing time should be factored in for requests for hard copies).

 

How will placing deals in BlackRock UCITS funds change once KIID has been adopted?

 

Prior to making subscription applications into ICS funds, on establishing that the deal is via an intermediary, the subscription application will be processed. It is your responsibility as an intermediary to ensure that all clients have received the KIID prior to making an investment. If you have any questions, please email blackrock.transfer.agency@jpmorgan.com. Alternatively, please contact us on +353 1612 3393 or contact your usual BlackRock contact. For your protection telephone calls are normally recorded.