1. The description contained in the 'Objectives and investment policy' section of the key investor information document shall cover those essential features of the UK UCITS about which an investor should be informed, even if these features do not form part of the description of objectives and investment policy in the prospectus, including:

(a) the main categories of eligible financial instruments that are the object of investment;

(b) the possibility that the investor may redeem units of UK UCITS on demand, qualifying that statement with an indication as to the frequency of dealing in units;

(c) whether the UK UCITS has a particular target in relation to any industrial, geographic or other market sectors or specific classes of assets;

(d) whether the UK UCITS allows for discretionary choices in regards to the particular investments that are to be made, and whether this approach includes or implies a reference to a benchmark and if so, which one;

(e) whether dividend income is distributed or reinvested.

For the purposes of point (d), where a reference to a benchmark is implied, the degree of freedom available in relation to this benchmark shall be indicated, and where the UK UCITS has an index-tracking objective, this shall be stated.

2. The description referred to in paragraph 1 shall include the following information, so long as it is relevant: