Guernsey solution developed for complex ‘KIDs'

A Guernsey-based actuarial technology company has developed a global offering to help international asset managers to provide calculations required under the EU's new Packaged Retail and Insurance-based Investment Products (PRIIPs) regulations, which came into force at the beginning of the year.

Asset managers now need to adhere to new technical standards for key information documents (KIDs), which must include summary risk indicators, projected returns, and disclosure of costs for investment products. Penalties for not complying with the regulation range from being prohibited from marketing the PRIIP or significant fines. All new investment products and existing investment products marketing to retail investors in the EU will need to comply with the requirement for a KID.