Content, form, and presentation of the key investor information; power to issue statutory instruments

(1) The key investor information, including the name of the UCITS, is pre-contractual information and is intended to put the investor in a position to understand the nature and risks of the investment product offered, and to make an informed investment decision on this basis.
(2) The key investor information must contain the following particulars of the material characteristics of the investment fund concerned:
1. the identity of the investment fund and of the authority responsible for the investment fund,
2. a brief description of the investment objectives and the investment policy,
3. the risk and reward profile of the investment,
4. costs and fees,
5. past performance and, where applicable, performance scenarios,
6. a statement that the particulars of the current remuneration policy are published on a website, the address of that website, and that a paper version of the website is made available free of charge on request; the statement also covers the fact that the particulars of the current remuneration policy accessible on the website include a description of the calculation of the remuneration and other benefits, and the identity of the persons responsible for allocating remuneration and other benefits, including the composition of the remuneration committee, where such a committee exists, and
7. practical information and cross-references.
(3) The investor must be able to understand these material characteristics without recourse to additional documents. The key investor information must be fair and clear, and must not be misleading. It must be consistent with the relevant parts of the sales prospectus. It must be kept short and drafted in generally understandable language. It must be prepared in a uniform format, in order to enable comparisons.
(4) For domestic UCITS, the further content, form, and presentation of the key investor information are determined by Regulation (EU) No 583/2010.
(5) The management company must state a total expense ratio in the key investor information. The total expense ratio is a single figure based on the figures of the preceding financial year. It comprises all costs and payments borne by the investment fund over the course of the year, in relation to the average net asset value of the investment fund, and is summarised in the key investor information under the designation "ongoing charges" within the meaning of Article 10(2), letter b, of Regulation (EU) No 583/2010; it must be stated as a percentage. Where a performance-related management fee, or an additional management fee for the acquisition, disposal, or management of assets under section 231(1) and section 234, has been agreed in the investment conditions, this must additionally be stated separately as a percentage of the average net asset value of the investment fund. The Federal Ministry of Finance is empowered to issue, by statutory instrument not requiring the consent of the Bundesrat, further provisions on the methods and bases for calculating the total expense ratio. The Federal Ministry of Finance may transfer this power by statutory instrument to the Federal Institute.
(6) (repealed)
(7) (repealed)
(8) (repealed)