GlossaryUCITS KIIDKey Investor Information DocumentKIIKIID document

KIID (Key Investor Information Document, UCITS)

The UCITS KIID is the two-page document introduced under UCITS IV that presents a fund's objectives, a 1–7 SRRI risk indicator, charges and ten years of calendar-year past performance.

Definition

The Key Investor Information Document (KIID) is the two-page disclosure that UCITS funds have produced for each share class since the UCITS IV Directive. Its sections are fixed: objectives and investment policy, a risk and reward profile with the synthetic risk and reward indicator (SRRI, 1 to 7, derived from five years of weekly volatility), charges (entry, exit, ongoing charges and performance fee), past performance as a bar chart of up to ten calendar years against the benchmark, and practical information.

Why it matters

For a decade the KIID was the standard source of a fund's risk class and ongoing charges figure, and many systems and datasets are built around its fields. For EU retail investors it was replaced by the PRIIPs KID on 1 January 2023, but the KIID remains the required document for UK UCITS and is still produced by many fund houses for professional investors and non-EU markets, so both documents circulate today.

In the API

The API reads whichever key information document the fund house currently publishes for the share class. The 1–7 indicator is in riskRating, ongoing charges in headlineMetrics.ter, and the calendar-year bars in calendarReturns. Example values:

json
{
  "riskRating": 6,
  "headlineMetrics": { "ter": 0.20 },
  "calendarReturns": { "years": [2023, 2024], "fund": [19.6, 26.6], "benchmark": [19.6, 26.6] }
}

Common pitfalls

The SRRI (KIID) and SRI (PRIIPs KID) are calculated differently, so do not mix them in one time series or compare a KIID score with a KID score. Ongoing charges exclude portfolio transaction costs and performance fees. The past-performance chart shows complete calendar years only, so a young fund may show none.