What is a key product description?

A key product description is a document prepared by the asset manager issuing a general private fund and provided to the distributor.

It sets out the names of the fund, the asset manager, the trust company and the general administration company; the investment objective, strategy, policy and target assets; the degree of risk and the risk factors involved in management; and matters concerning redemption. The distributor must deliver it to general investors in writing, by post or email, by mobile text message, or by similar means.