Looking at it now, tired and hungover, that KID is weird. It is just made up by Banco Invest, no? It contains no details Iād expect. For one, it should be a KIID not a KID, but mainly the fees section is weird. I didnāt even see an Isin to identify the product.
Butā¦ yesā¦ good spot and reasoning.
Yet (so far) this changes nothing for me. I would not personally say any U.K. based broker would use a document like that to box tick the regulations and provide that etf. I explored producing kiids in house and legal advice was ānoā. Banco Invest legally have an obligation to produce the kiids in all 16 European languages now! Wonder if they know!
Iāll keep on researching. But no, this doesnāt seem to be the game changer everyoneās hoping for.
Yes, these generic KID were done by the bank that sales ARK ETFs. That KID is used for all US ETFs that donāt have original KID. I know some people from that bank who sold also ARK ETFs to their customers.
The Portuguese financial regulator (CMVM) only demands KIID, KID and Prospects in the national language, Portuguese. If the banks accepts foreign costumers, they obliged to give English translated documentation.
Using your excellent database from Trading 212 (28/Dec/2020), I did some data mining and found the following:
EXCHANGE
ETF
NASDAQ
4
NYSE
50
Total
54
Examples:
ISIN
TICKER
NAME
Ā£$
MIN QTY
EXCHANGE
TYPE
US4642882819
EMB
iShares J.P. M. USD Emerging Markets Bond ETF
USD
2
NASDAQ
ETF
US78463V1070
GLD
SPDR Gold
USD
2
NYSE
ETF
US4642885135
HYG
i iBoxx $ HY Corporate Bond
USD
2
NYSE
ETF
US4642851053
IAU
iShares Gold Trust ETF
USD
2
NYSE
ETF
US46428Q1094
SLV
iShares Silver Trust ETF
USD
2
NYSE
ETF
US9123183009
UNG
United States Natural Gas Fund
USD
2
NYSE
ETF
US91232N1081
USO
United States Oil Fund
USD
7
NYSE
ETF
US9229085538
VNQ
Vanguard REIT
USD
2
NYSE
ETF
US81369Y3080
XLP
Consumer Staples Select Sector SPDR
USD
2
NYSE
ETF
So Trading 212 have 54 US-domicilied ETFs on their database, but donāt show up on the platform. It could have been sold before or are sold on some accounts? Did these ETFs had KIDs?
Looked into doing that in the UK many times. Legal advise and Compliance advice was ātoo riskyā. Thatās NOT my opinion nor IS my opinion. I wanted to. But greater powers said no.
Excellent. But is NOT the case Europe wide. Why? I dunno. āShouldā the manufacturer create a KID in 16 Euro languages. YES. Itās in the regulations. Again, not my choice. Not my opinion.
No. They wonāt have KIDs. They also, as yo say, donāt show up if you search for them in app. So I GUESS they are either errors, for sophisticated traders only, CFDs, something else or something else. Either way, not an issue if not sold to non-accredited Euro clients without a KID pre-sale. (unlike some platforms that have made a few errors and do sell in this manner, whoops!)
There are only 3 real options here (to trade the real ETF , not a derivative). 1: European/UK Law change. Possible, yes. Likely, not soon. 2: T212 Compliance Dept get really brave and manufacture a KID themselves and see what happens. 3: ARK sets up a Euro branch (Like GlobalX did), produce a KID and legitimately sell here to non-accredited Euros.
That āUCITSā tick has been on the ARKK website for ages. Itās orange as opposed to green ā¦ ie, somethings not fully correct. Then it links you to NikkoAMā¦ and you can buy Nikkoās fund if your professional or institutional but not retail.
There is no change here. ARKK has always confusingly been ticked as UCITSā¦ which is misleadingā¦ it isā¦ but only in the Nikko variantā¦ that you probably canāt buy (easily)
Stick with your pies for now ā¦ donāt fixate on the fractional percentage holding changesā¦ thatās price fluctuations, not always ARKs āchoiceā to make an underlying asset % changeā¦
no more cursed ARK requests