Products Key Facts Statements (KFS)
To help investors grasp the key issues of a product before investing, the SFC has enhanced the disclosure requirements for a range of investment products marketed to the public in Hong Kong, namely funds, investment-linked assurance schemes (ILAS) and unlisted structured investment products (SIP).
The introduction of KFS is a key part of the strengthened disclosure requirements. A KFS gives a prospective investor a concise and user friendly summary, in plain language, of the key features and risks of a product. The following sections can generally be found in the KFS:
- Name and type of product
- Name of issuer
- Quick facts
- What is this product (and how does it work)
- What are the key risks
- What are the fees and charges
- Additional information
Different investment products have their unique features and risk profile. Therefore, while all KFS provide certain types of information as mentioned in the prior section, the KFS of each type of investment products must also contain information that is specific to its product class.
A KFS is no substitute for the full set of the offering documents. Don't rely solely on a KFS to make an investment decision. You must read the offering documents before deciding whether or not to invest in a product.
To find out more about KFS, refer to our "How to Read KFS" booklet for investors.
KFS illustrative templates
Below are the KFS illustrative templates for different product types:
|General Funds (PDF)|
|Guaranteed Funds / Funds with Structured Pay-outs (PDF)|
|Exchange-traded Funds (PDF)|
|Index Funds (PDF)|
|Investment-Linked Assurance Schemes (PDF)|
|Unlisted Structured Investment Products (PDF)|
|Recognised Mainland Funds – General Funds (PDF)|
|Recognised Mainland Funds – Index Funds (PDF)|