What is the relationship between point 11 of Annex IV and Article 15 of the Delegated Regulation?

Annex IV, point 11 of the Delegated Regulation specifically concerns the frequency with which the performance scenario should be calculated for Category 2 PRIIPs. It does not require a review of the entire KID, which is governed by Article 15 of the Delegated Regulation. The recalculation of the performance scenarios also does not automatically mean that it will be necessary to revise and republish the KID. This depends on the degree to which the performance scenario results have changed and whether the information contained in the key information document remains accurate, fair, clear, and non-misleading. In accordance with second sub-paragraph of Article 8(3) of the Delegated Regulation, for certain types of PRIIPs (‘open-ended funds, or other PRIIPs open to subscription’), previous performance scenario calculations shall be published on a monthly basis. This monthly publication also does not require an update to the KID itself.