The feedback regarding the use of illustrative scenarios combined with probabilistic performance scenarios was consistent in terms of respondents arguing against these proposals with the main arguments cited being the following:
• Displaying both types of scenarios will create an overload of information;
• Investors probably will not understand the differences between the two methodologies and will be confused;
• Additional scenarios cannot be fitted into the KID (due to the three pages limit).
The consumer testing results also did not provide evidence to support the use of illustrative scenarios together with probabilistic performance scenarios.
In terms of the option to replace the probabilistic performance scenarios with illustrative scenarios, the views of those that responded to this question were more mixed. There also appeared to be some different understandings of the meaning of illustrative scenarios. On the one hand, a significant proportion of respondents in favour of…