Overlord selects RBC Dexia 19 July 2011Paris Reporter: Justin Lawson
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RBC Dexia Investor Services has been given approval by the Autorité des Marchés Financiers (AMF), the French supervisory authority, to provide KIID services to Overlord Premium, the first French investment fund with a Key Investor Information Document (KIID).
RBC Dexia is providing its KIID services to the fund, which is managed by Overlord France Finance, an investment management firm whose President has 40 year’s experience in the market. The KIID became a legal requirement on July 1, 2011 as part of the UCITS IV legislation and offers potential investors an overview of the key features of all UCITS investment products.
“We are delighted that Overlord Premium has taken this important step with us to become the first investment fund in France to offer this important evolution in client information,” said David Dibben, Head of Global Fund Products at RBC Dexia. “As investors want more information for informed decision making and the ability to make product comparisons, the KIID is a welcome development.”
“We are committed to the principles of transparency and clear, timely updates that the KIID offers and we are very pleased to be the first fund authorized to offer this by the AMF,” said Michel Conte, President of Overlord France Finance. “RBC Dexia’s assistance throughout the process left us in no doubt as to their expertise and their support has proved invaluable.”
From July 1, 2011 all investment companies selling funds within EU member states must produce a KIID written in the local language of each country in which the fund is sold and the document will have to be regularly maintained and updated for accuracy.
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