What information must be included in the product characteristics section?

The product characteristics section must include key identifying details (such as the product name, ISIN or equivalent, manufacturer name, revision date and product type), a description of the investment strategy and any underlying investments, material market exposures, and any environmental or social objectives or insurance benefits. It must also set out the investment term or recommended holding period, including appropriate warnings for early withdrawal, and explain return calculations for structured products and any capital guarantees. In addition, it must cover complaints information, compensation scheme coverage, fees or penalties for early exit, and references to where further information can be found. Where the CCI invests in a fund, additional disclosures are required regarding the fund’s regulatory status, operator or AIFM, and, for feeder funds, the relationship to the master fund and any differences in returns.