Jupiter, Martin Currie and Neptune to use Kii Hub for KII documents
Jupiter Investment Management, Martin Currie Investment Management and Neptune Investment Management have announced they will use Kii Hub as their preferred solution for producing key investor information documents (KIIDs)
Kii Hub will be used to produce documentation covering both UK and Luxembourg domiciled Ucits funds from the three providers.
These providers will join Aberdeen Asset Management, which announced its intention to use Kii Hub in January this year.
KIIDs come into effect starting from July 2011. They are intended to replace simplified prospectuses as part of the EU’s ongoing programme of ensuring consumer protection as it lowers the barriers to trade in financial products and services throughout the single market.
Under the KIID rules, providers of funds must develop a KIID for each share class as applicable. Firms are allowed to do this themselves, but services such as Kii Hub – a joint venture involving Financial Express, Technical Fund Marketing and Global Funds Registration – are positioning themselves as easier and cheaper outsourcing alternatives.
Gary Wheeler, head of sales and account management at Financial Express, said: “Many groups are finding that the separate KII approach is likely to be the most straightforward route, although logistically it is a massive challenge that lends itself to an outsourced solution.”