UCITS IV EN

Replacing the simplified prospectus by the KII

> The simplified prospectus, introduced under UCITS III, did not prove to be an efficient and useful tool to assist investors in their decisions > UCITS IV proposes to introduce a more readable and homogeneous document: Key Investor Information (KII) > All the existing simplified prospectus shall be replaced by 01/07/2012

Current situation (UCITS III)

Target situation (UCITS IV)

KII benefits > Common format allowing for comparison > Written in a brief manner and in non technical language KII Content > Short description of the UCITS investment objectives and policy > Concise presentation of past performances > Costs and associated charges > Risk/reward profile of the investment

Simplified prospectus drawbacks >Too long and complex > Writing and updating time- consuming > Numerous adaptations needed for countries having specificities > Do not allow a real comparison between various funds

Simplified prospectus

KII

Full prospectus

Detailed note

Detailed note

Fund rules

Fund rules

10 > UCITS IV•01/10/09