Exchange Traded Products: Key Investor Information Document (KIIDs)

Pursuant to EU Directive 2009/65/EC (the "UCITS IV Directive"), and any amendments thereto, which mandates the provision of Key Investor Information Documents (KIIDs) and the PRIIPS Regulation which requires the preparation and publication of Key Information Documents (KIDs), we include below ETP Issuer provided links to their respective KIIDs and/or KIDs host pages where the KIIDs and/or KIDS can be viewed and/or downloaded.

 

For further information please contact us directly at +44.207.996.7833 or dg.gmff_delta_one_and_equity_finance_marketing@baml.com

 

Amundi: To access KIIDs information click on the link below, go to ‘List of Products’ and click product by product to access KIID information:

https://www.amundietf.co.uk/professional

 

BMO: Click on the link below to access BMO’s site. By selecting the appropriate fields under the ‘Literature’, KIIDs information can be downloaded

https://www.bmo.com/gam/uk/etf/literature

 

Dbx trackers: Please click on the link below to access the Dbx site and click product by product to access KIIDs information

https://etf.deutscheam.com/GBR/ENG/Product-Overview

 

ETF Securities:

Please click on the link below to access ETF Securities KIIDs information

http://etfdocbank.staging.greenlightdigital.com/

 

Please click on the link below to access ETF Securities KIDs information

http://34.242.79.197/PRIIP/

 

HSBC: Please click on the link below to access HSBC’s site. By clicking on each fund and selecting ETF literature, KIIDs information can be accessed

http://www.etf.hsbc.com/etf/uk/professional

 

Source Invesco: Please click on the link below to access relevant KIIDs and KIDs information

https://www.sourceetf.com/library/kiids

 

iShares: Please click on the link below and then click on Products to access relevant KIIDs/KIDS information

https://www.ishares.com/uk/institutional/en/resources/document-library?siteEntryPassthrough=true&materialType=kiid&productGroup=IR-ISH~IR-ISHII~IR-ISHIII~IR-ISHIV~IR-ISHV~IR-ISHVI~IR-ISHVII~IR-ISHMETAL&glsLanguage=en&locale=en_GB&userType=institutional  

 

J.P. Morgan: Please click on the link below to access the relevant KIIDS information

http://www.jpmorganassetmanagement.ie/en/showpage.aspx?pageid=18

 

Lyxor: Please click on the link below and click on Products or Resources to access the KIIDs section

http://www.lyxoretf.co.uk/en/instit/documentfinder/filter/19

 

Ossiam: Please click on the link below to access Ossiam’s Reports, click on 'Regulatory documents' to access the latest KIIDs

http://www.ossiam.com/librairie/see#theTabs5

 

State Street: Please click on the link below to access the State Street site. By expanding the relevant section KIIDs information can be downloaded

https://www.spdrseurope.com/resources/library/index.seam

 

UBS ETFs: Please click on the link below to access UBS' site and access KIIDs information

https://www.ubs.com/global/en/asset_management/kiids.html

 

Vanguard: Please click on the link below to access the Vanguard website and click on each product where under the ‘Documents’ field the KIIDs information can be accessed

https://www.institutional.vanguard.co.uk/portal/site/institutional/uk/en/investments/all-products?productType=etf

 

WisdomTree: Please click on the link below to access Wisdom Tree’s site and select the ‘KIIDs’ or ‘KIDs’ tab to download relevant information

https://www.wisdomtree.eu/en-gb/resource-library/prospectus-and-regulatory-reports#tab-7EC1D199-48FA-4A3D-BC8A-EDAE5E5B88EB

New York
+1 212 449 1078

Chicago
1.866.202.5908

Europe
+44 207996 0870

Japan
+813.6225.8398

Asia
+852.2161.7550 

Exchange-traded funds ("ETFs") are structured so that individual investors can purchase and sell ETF shares on the applicable listing exchange at the current market price, and large institutional investors known as "authorized participants" (or "market makers") can purchase and sell ETF shares directly with an ETF sponsor/issuer at the ETF's next-determined net asset value. The ability of authorized participants to arbitrage any differences between the net asset value and the market price helps to ensure that the two prices typically will be close to one another during normal market conditions. At times, however, there can be pricing dislocations that result from stressed market conditions or other unforeseen events, such as trading halts or errors with trading infrastructure and systems. ETFs that have recently launched or that fail to attract a large amount of assets can also demonstrate market prices that have a wider premium or discount from the ETF's net asset value. If an ETF is not successful in implementing its investment strategy or fails to attract sufficient assets to realize economies of scale, the ETF sponsor/issuer may determine to liquidate the ETF, which could have negative tax consequences for shareholders and will result in the ETF incurring expenses in connection with the liquidation. In addition, if an ETF has only a limited number of authorized participants or where authorized participants are unwilling or unable to proceed with creation and redemption orders, ETF shares may trade at a premium or discount to net asset value and could be subject to delisting from the exchange.

 

ETFs' underlying investment portfolios face separate, but related, liquidity considerations. European ETFs that are structured as UCITS in accordance with the requirements of the EU UCITS Directive, which is typically the case in Europe, are subject to detailed requirements and constraints relating to the types of investments they can make (and in the case where the ETF seeks to track an index by directly holding all the constituent securities or a representative sample thereof and/or by employing derivatives to gain synthetic exposure to same, the requirements and constraints would apply to that index). Also, ETFs may invest a portion or all of their net assets in unlisted and/or illiquid securities. Illiquid and/or unlisted securities in which an ETF invests are subject to the risk that the fair value price determined by the ETF’s board of directors will differ from the actual price that the ETF would realize upon the sale or disposal of the security. Authorized participants that submit redemption orders of ETF shares may get illiquid securities back from the ETF in-kind, or the ETF may have to sell illiquid securities at a loss in order to generate cash to meet in-cash redemptions which sale may be at a price lower than that at which they were bought or than the ETF’s board of directions values them. Accordingly, in such circumstances customers could suffer an investment loss. These situations could occur with greater frequency or be more likely to occur during stressed market conditions and during days with high levels of redemption orders by authorized participants. Ultimately, ETF investors bear the cost of this market impact in the form of wider spreads to buy or sell ETF shares in the secondary market.