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CCI product summaries explained
A CCI product summary is the short document UK retail investors receive before buying a fund or other packaged investment. Under the FCA's Consumer Composite Investments (CCI) regime it replaces the UCITS KIID and the UK PRIIPs KID, and it must be in place for every product in scope by 8 June 2027.
Last reviewed 30 October 2026 · About 6 minutes to read
Please note: this guide summarises the rules as we understand them at the date of review. It is general information, not legal or regulatory advice. Always check the current rules and take professional advice before relying on it. See our Terms and Disclaimer.
1. What a CCI product summary is
The CCI regime brings UK retail disclosure for funds, structured products and other packaged investments into one set of FCA rules, in the DISC sourcebook. Each product has one product summary, built around figures calculated the same way for every product so investors can compare them: a risk and return score from 1 to 10, costs in percentages and pounds, and a past performance graph. Unlike the KIID and KID, there is no fixed template or page limit.
2. Who produces it
The manufacturer, usually the fund's management company or the product's issuer, is responsible for preparing the product summary, keeping it up to date and providing it to distributors. Distributors, such as platforms and advisers, must make the current version available to retail investors before they invest. The manufacturer also provides machine-readable data, called the Core Information Disclosure, so distributors can use the figures in their own systems.
3. Which products need one
- UK UCITS and non-UCITS retail schemes
- Overseas funds recognised in the UK, such as Irish and Luxembourg UCITS funds and ETFs
- Structured products, contracts for difference and other packaged products sold to UK retail investors
Ordinary company shares, plain listed bonds and pension schemes are outside the regime.
4. What goes in it
| Section | What it shows | Rules |
|---|---|---|
| Product information | What the product is, its objective and benchmark, and who it is designed for | DISC |
| Risk and return score | A whole number from 1 to 10 on a horizontal scale, mostly from 10 years of price volatility, with a narrative on material risks. See how the score is calculated | DISC 5 |
| Costs | Ongoing, transaction, entry, exit and performance-related costs, as a percentage and in pounds on an assumed £10,000 | DISC 6 |
| Past performance | A line graph of the value of £10,000 at each month-end over up to 10 years, net of costs, with a benchmark where the fund has one | DISC 7 |
| Other information | Practical details such as complaints and where to find more information | DISC |
Our CCI product summary checklist lists every requirement section by section, and the example product summary shows a finished document.
5. When it is needed and reviewed
| Date | What happens |
|---|---|
| 6 April 2026 | Optional transition began: firms may publish product summaries now or keep their KIIDs and KIDs |
| 8 June 2027 | The rules apply in full: KIIDs and UK PRIIPs KIDs must have been replaced |
| Every 12 months | Each summary is reviewed at least yearly, and updated after any material change |
For what changes from the KIID and KID, the data you will need and a plan to switch, see our transition guide.
6. Common questions
Is a CCI product summary a marketing document?
No. Like the KIID and KID it replaces, it is a regulated disclosure document. A factsheet is a marketing communication and must be consistent with it.
Does an Irish or Luxembourg UCITS sold in the UK need one?
Yes, if it is sold to UK retail investors. Funds recognised under the Overseas Funds Regime are in scope, so a fund sold in both the UK and the EU may need a UK product summary and an EU PRIIPs KID.
Is there a set template?
No. The FCA sets what must be included and how the core figures are calculated, but not the layout or page count. Many firms will produce a short version and a fuller one.
How long does it take to produce one?
The calculations are quick once the data is in place. Most of the effort is gathering 10 years of prices, cost figures and product details the first time, then keeping them current.
Related
Sources
- FCA PS25/20: Supporting informed decision making, final rules for Consumer Composite Investments
- FCA Handbook DISC 5: Risk and return information
- FCA Handbook DISC 6.3 (costs)
- K&L Gates: From UCITS KIIDs and PRIIPs KIDs to CCI product summaries
Important information
This guide has been prepared with care and is believed to be accurate as at 30 October 2026, but it is a general summary only and may not be complete. It is not legal, regulatory or compliance advice and must not be relied on as such. Rules and regulators' interpretations change, and we do not undertake to keep this guide up to date. Before relying on any point, check the current rules and take appropriate professional advice. To the extent permitted by law, autoFactsheet accepts no liability for any loss arising from reliance on this guide; see our Terms and Disclaimer. If you spot something that is out of date, please let us know at info@autofactsheet.com.
Free download: CCI readiness checklist
A two-page checklist of the dates, data and decisions needed to move from KIIDs and KIDs to CCI product summaries by 8 June 2027.
How ready is your firm? Answer 12 quick questions and get a readiness score, the effort ahead and your next steps for June 2027.
Getting ready for CCI?
We build CCI product summaries from your existing data, with every FCA rule checked and a rule checklist for your compliance file. Send us one fund and we will show you what its summary looks like.
Getting ready for CCI?
We build CCI product summaries from your existing data, with every FCA rule checked and a rule checklist for your compliance file. Send us one share class and we will show you its summary.