Regulatory Alerts2023-09-12
Circular No. 06/CREPMF/2022 Relating to the Key Investor Information Document to be Provided to the Investor of a Collective Investment Undertaking
The Regional Council for Public Savings and Financial Markets (CREPMF) of the West African Monetary Union (UMOA) issues Circular No. 06/CREPMF/2022 to mandate approved Collective Investment Undertakings (CIUs) and their Management Companies to prepare and distribute a standardized Key Investor Information Document (KIID). The regulation specifies strict formatting, length, and content requirements, including detailed sections on investment objectives, risk and return profiles, fee structures, past performance calculations, and practical information. It further establishes review and publication protocols, special provisions for multi-class funds, fund-of-funds, and master-feeder structures, ensuring investors receive clear, comparable, and legally compliant data to make informed decisions.