The ESAs also propose to introduce a number of adjustments to the existing requirements for the generic KID and option-specific information including:
• To require the PRIIP manufacturer to include a short narrative so that the retail investor is aware whether the costs shown in the specific information document include all of the costs that they will have to pay when investing in that investment option via the MOP. It is not proposed to prescribe this narrative to allow the MOP manufacturer to tailor the explanation to the particular MOP. The intention is for it to be a simple explanation highlighting whether or not all costs are shown, rather than necessarily explaining the details of those additional costs. Some possible examples are:
o The tables below set out the costs of investing in this fund through [add product name], [where applicable for an externally managed fund] and include both our costs [i.e. the insurance company] and the costs of [external fund manager];
o The table
…