KIID production is a specialist activity with a number of detailed requirements involving different skillsets. FE Kii Hub has specialists in all the necessary disciplines, forming a centre of excellence for this important regulatory requirement.
FE Kii Hub provides the ideal outsourced solution for fund groups with varied requirements, from assistance with individual elements of KIID production to our full service where we draft, maintain and publish all your KIIDs.
The FE Kii Hub service encompasses every stage in the process of delivering KIIDs and includes:
- Drafting the text in plain language
- Branding the document
- Fund data collection and processing
- Calculation and monitoring of SRRIs*
- Translation into any European languages
- Hosting the document and archiving previous versions
- Delivery to regulators, aggregators and major distributors
* The FE Kii Hub SRRI calculation methodology has been independently accredited by AKG Actuaries and Consultants
When you partner with FE Kii Hub, you can outsource as much of the KIID production process to us as you wish. We work with your Risk, Compliance, Marketing and other departments to ensure the process is as smooth and efficient as possible. You can even outsource the entire process to our Bureau service, leaving you to approve the final documents.
When it was announced that Key Information Documents (KIDs) will be required for the wide range of products classified as Packaged Retail and Insurance-based Investment Products (PRIIPs), FE Kii Hub committed to delivering a complete outsourced solution for these, too. We have been working with the industry and regulators to deliver a successful outcome and building a working platform as the requirements become clear. KIDs will be needed for all PRIIPs from the end of 2017 and it is currently expected that UCITS funds will need to issue KIDs instead of KIIDs from the end of 2019.
The Core FE Kii Hub Service
KIID Production and Archiving
The Core FE Kii Hub service provides 24/7 access to the FE Kii Hub document production platform, which we believe to be Europe’s leading KIID system. We continually invest in our technology and delivery to ensure it remains at the forefront of the industry.
Using FE Kii Hub, there is no limit to the number of times a KIID can be revised each year without incurring additional cost, something offered by very few outsourced KIID solutions.
The FE Kii Hub service monitors ongoing SRRIs as standard, with alerts sent when a change means a revised document is needed. Our SRRI calculation methodology has been independently verified and accredited by AKG Actuaries and Consultants.
All KIIDs are archived and are accessible direct from the platform for seven years – thereafter, they are retrievable on request.
We provide ongoing guidance as part of the Core FE Kii Hub service, based on our thorough understanding of the current KIID requirements:
- Ongoing regulatory support, including interaction with local regulators and industry bodies
- Alert service for relevant regulatory/best practice issues
- Regular review meetings
- Regulatory and industry input to FE Kii Hub client forums
- Regulatory input to proposed system amendments
- Advice and updates on regulatory changes to KIIDs and related issues
The FE Kii Hub drafting team is expert at transforming complicated fund text into the plain language required by the strict KIID regulations, an area many fund groups – and their advisers – struggle with.
As part of our service, we cover the following:
- Drafting KIIDs in line with current regulatory requirements
- Ensuring consistency with the prospectus and other documents
- Handling all amendments through to sign-off
- Proof reading of typeset documents and any amendments
- Liaison with Compliance and other internal parties
- Regulatory guidance and support throughout
We can translate KIIDs into the official languages of all countries covered by the UCITS regulation. Our translation service integrates seamlessly with the FE Kii Hub platform, ensuring a fast turnaround and a top-quality, cost-effective service – with little or no client input required.
All communication to and from our translators is encrypted to internet banking standards, giving you the peace of mind that all data remains completely secure throughout.
The automation and innovative use of custom-built technology keep costs as low as possible, while preserving linguistic integrity, as you are not charged for the re-translation of unchanged sections. Repeated content is automatically detected, leading to further savings.
Distribution is a key part of the KIID process. KIIDs need to be delivered to a wide range of onward distributors, platforms and regulators in the UK and across Europe. This is not as straightforward as it may sound and there are varying requirements in the way the counterparties require documents to be sent and what accompanying information they need.
The FE Kii Hub distribution service lets you publish your KIIDs automatically to a number of aggregators (companies that collect fund documents), platforms and fulfilment houses.
FE Kii Hub contains ‘email read receipt’ distribution functionality for both physical PDFs and static URL links to your selected recipients. This solution satisfies each recipient’s filing requirements, including metadata tags, PDF naming conventions and CSV files. The system is configured to send published KIIDs in the correct format to the major aggregators across Europe.
FE Kii Hub offers the complete outsourced solution for those wishing to remove the seasonal and ad hoc burden of preparing and filing KIIDs. We complete all of the template documents, load the data and text, monitor the SRRI calculations and ensure new documents are produced and available when necessary. This alleviates the pressures on your time, staff and other resources.
While FE Kii Hub carries out all the input and production of your KIIDs, you still retain final sign-off, so no documents are published until you are entirely satisfied with the content and layout.
Cross-border Fund Registration
FE Kii Hub offers a project management service to remove the administrative burden of cross-border fund authorisation. We provide advice and guidance for over 40 jurisdictions worldwide, including all countries covered by the UCITS regulations.
We can work with your preferred partners or source, appoint and work with appropriate third parties and the regulators to arrange and maintain fund authorisations wherever you market your funds.
Our service includes filing your KIIDs with local regulators.
FE Kii Hub’s commitment to excellence has been independently recognised, having won the Investment Week Fund Services Awards “Award for Best Practice” in both 2014 and 2015 and two Corporate LiveWire Global Fund Awards “Client Choice Award: Best Service Provider” in 2015 and “Most Outstanding European UCITS KIIDs Platform” in 2016.
The Best Practice Award honours “providers who are going above and beyond standard practice to improve the overall process of service provision” and the Chair of judges said of the 2015 award: “[FE] Kii Hub's total commitment to ensuring the solution keeps up with constant regulatory change is a great example of best practice in action”.
The Corporate LiveWire Global Fund Awards is an international awards programme in recognition of fund performance and service providers who support the industry.
Read about the Best Practice Awards and the Global Fund Awards FE Kii Hub has won: