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CCI product summary production

The FCA's Consumer Composite Investments (CCI) rules replace the UCITS KIID and the UK PRIIPs KID with a new product summary, required in full from 8 June 2027. We produce product summaries for UK-authorised and recognised overseas funds from your existing data, with every calculation shown so your compliance team can check it.

What you get for each share class

For investors

• Essential version: the short product summary, in your branding, as a PDF and a web page
• Enhanced version: the fuller summary, as a PDF and a web page

For platforms and distributors

• Core information file: every figure and field in the summary in a standard, machine-readable layout, with a field dictionary
• Performance series: the monthly figures behind the past performance section

For your compliance file

• Rule checklist: each FCA rule marked PASS, CHECK or N/A, with the evidence for each
• Full recalculation (on request): every calculation redone independently, for your compliance team or auditor
• Risk score record: how the score was reached, to keep for at least five years (DISC 5.6.8R)

What we calculate

• Risk and return score from 1 to 10, calculated from 10 years of prices under DISC 5, with simulated history for younger funds and every adjustment recorded
• Costs in percentages and pounds on an assumed £10,000, with ongoing, transaction, entry, exit and performance costs separated, and a worked example where a performance fee applies (DISC 6)
• Past performance graph of £10,000 over up to 10 years, with the benchmark where required (DISC 7)

Core information file for distributors

The CCI rules ask manufacturers to publish more than the summary itself. Platforms and distributors need the underlying information in a form their systems can read, alongside the document they show investors. With every summary we produce a core information file: each figure and field in a fixed layout with a field dictionary, plus the monthly performance series, and one combined file for your whole range. It plays the same role for CCI that the EMT plays for costs today.

A full audit trail for compliance

Accessible and ready for the web

Each summary comes as a PDF and as a web page, so you can publish it on your website and link to it from platforms. Brand colours are checked for contrast before anything is built, and a colour that would be hard to read is rejected.

Built for Consumer Duty

• Plain-English limits checked: descriptions and objectives are kept within the FCA's word limits, and placeholder text is caught before it reaches investors
• Costs in pounds as well as percentages, so investors can see what they pay
• Balanced risk wording, including that a low score does not mean risk-free
• Evidence you can show: the rule checklist records what was checked for each summary

Up-to-date data, every time

The rules expect the risk score and performance to use recent data. The build stops if the latest price data is more than 60 days before the preparation date, and warns if the cost figures are more than 18 months old, so an out-of-date summary is never sent out by mistake.

Investment trusts and VCTs

Listed investment companies need a CCI product summary too, with a few differences from an open-ended fund. We build them in:

• Share price and NAV: both histories shown, as the rules require for listed closed-ended funds, with the discount explained
• The right cost figure: ongoing costs without borrowing and real-asset costs, and a statement saying so
• Risk score basis recorded: NAV or share price, with the other worked out for comparison so your reviewer can confirm the choice
• Trust risks in plain English: discount, borrowing (gearing) and unlisted valuations
• VCTs: the minimum risk score of 9, tax relief wording and how selling works

Ask us for an example investment trust or VCT summary.

Key dates

How it works

1. Send your data on our CCI template: weekly prices, costs, product details and the risk questions. Much of it already exists in your prospectus, KIID, KID or EMT.
2. We calculate the risk score, costs and performance graph, and cross-check the results against your EMT or KID.
3. You review the summary, the rule checklist and the risk score record, and approve.
4. We update at each annual review, or sooner after a material change.

Pricing

Common questions

When do UK funds need a CCI product summary?

The rules apply in full from 8 June 2027. Firms can switch earlier: the optional transition began on 6 April 2026.

Do overseas funds sold in the UK need one?

Yes. Funds recognised under the Overseas Funds Regime, such as Irish and Luxembourg UCITS ETFs sold to UK retail investors, are in scope. Funds sold in the EU keep their PRIIPs KID there.

How is the 1 to 10 risk score calculated?

From the annualised volatility of weekly prices over 10 years, mapped to bands set by the FCA, then adjusted for factors such as illiquidity or losses beyond the amount invested. Younger funds use simulated history for the missing years. See how the CCI risk score is calculated.

Can we check your calculations?

Yes. Every summary comes with a rule checklist showing each FCA rule as PASS, CHECK or N/A with its evidence, and a risk score record for your files. A full independent recalculation of every figure is available to your compliance team or auditor on request.

Do investment trusts and VCTs need a CCI product summary?

Yes. They replace their KIDs with a product summary by 8 June 2027, like other funds. The summary shows the share price as well as the net asset value, leaves borrowing and real-asset costs out of ongoing costs, and VCTs carry a minimum risk score of 9.

What do platforms and distributors receive?

A core information file for each share class: every figure and field in the summary in a standard machine-readable layout with a field dictionary, plus the monthly performance series. You publish it alongside the summary.

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