“This move further increases the transparency for our customers,” comments Gerhard Frieg, Member of the Executive Board at MLP AG responsible for Product Procurement and Management. “The new information sheets lay out the opportunities and risks of the respective investment concept, explaining how each works and clearly detailing the associated fees.”
In the new product information sheets MLP covers all specifications recommended by the Ministry including “product description”, “risk” or “fees”. Since the investment concepts managed by the MLP subsidiary Feri are driven entirely by the customers’ risk propensity, MLP also refers specifically to the respective risk tolerance (value at risk) in addition to the legally stipulated risk categories with these concepts. This figure represents the maximum loss limit that, with a 95 percent probability, will not be exceeded within a one-year period. In addition to the product information sheet customers will also receive a market comment which provides an overview of current trends on the capital markets.
For the coming months MLP plans to introduce comparable product information sheets for all financial products including especially old-age pension provision products.
For more information and example information sheets, please visit
www.mlp-beratungsqualitaet.de (German only). MLP published the ten guidelines for consumer consultation on this internet page last November.