The revised
UCITS Directive (2009/65/EU) requires, for structured
UCITS (including capital protected and guaranteed UCITS) and other comparable UCITS, the use of prospective scenarios. Article 36 of the Commission Regulation No 583/2010 implementing the Directive as regards key investor information (KII) elaborates on this general requirement. In order to ensure comparability between structured UCITS,
CESR has developed guidelines with a view to harmonising the selection and presentation of scenarios.
There is also guidance on how the scenarios themselves should be presented, including on the choice between using tables or graphs. Finally, the annex contains examples of performance scenarios using a table- or graph-based presentation.
Full Guidelines
© CESR - Committee of European Securities Regulators
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