ESA Joint Committee · priips-99 Final

If the benchmark is changed, how should the chart of past performance be displayed for the period preceding the change?

Regulation
PRIIPs
Answered
2022-11-14
Answer provided by
ESAs (EBA, ESMA, EIOPA)
⚠

Joint Committee Q&As are published in consolidated PDF documents without explicit question/answer delimiters. Section boundaries below are identified automatically and may occasionally be imprecise.

Question

If the benchmark is changed, how should the chart of past performance be displayed for the period preceding the change?

Answer

Pursuant to points 15 and 16 of Annex VIII of the Delegated Regulation, where a material change occurs to a UCITS or AIF’ objectives and investment policy or to the objectives of a unit-linked insurance-based during the period displayed in the bar chart, the past performance prior to that material change shall continue to be shown. Therefore, if the benchmark is modified, the bar chart should display the performance of the previous benchmark for the period preceding the change labelled with a clear warning that the performance was achieved under circumstances that no longer apply.

This Q&A is published by ESA Joint Committee (EBA, ESMA, EIOPA) and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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