The Association of Investment Companies (AIC) will not be hosting any Key Information Documents (KIDs), which investment trusts were made to disclose earlier this year, on its website as it believes it would "not be responsible to do so".
The trade body, which represents closed-ended investment companies, provides a range of data on its member firms for investors, such as performance, portfolio information, charging and dividend history. However, it has said it will not be hosting any KIDs as it believes the documents "overstate likely future performance and understate investment risk" and encourage investors to 'buy high and sell low'. The organisation said there are dangers associated with KIDs and has called on the Financial Conduct Authority (FCA) to take steps to protect consumers against those risks and prevent "...
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