It always surprises me how many well-known asset managers produce unclear factsheets. Some are cluttered, whilst others are poorly laid out and badly written.
Factsheets are representative of a manager’s brand. Of all the investor documents, these are not surprisingly the ones that are most of interest to investors.
From an IR perspective, in my opinion, if you are producing factsheets in-house (not through custom templates from the likes of Broadridge) there are various rules that I have used in the past.
Stick to two pages. Keep the layout clear and uncluttered. As old fashioned as it may be, stick to A4 or US letter - portrait style - and keep the header clear for branding.
Use an easy-to-read modern font (certainly sans serif) that should be maintained across the document. Be consistent, with the same look and feel across all fact sheets, KIIDs and other updates.
While there are no set rules for factsheets, my preferred approach is two columns, with Fund Facts in the right-hand column below the manager’s logo. This should include Key Facts: asset class, launch date, currency, fund size, domicile, fund type, ISIN, BBG Ticker, minimum investment. Below which are the Top Holdings and an indicator to show if they have changed month on month.
The left column on the first page is wider than the right and includes Fund Name, Date, Fund Overview, Past Month’s Performance update (a brief write up of no more than two paragraphs – stick to a word limit - be open about what did not work as much as what did work), Performance Chart (since launch) and Rolling Performance table.
Page two can include a further Fund Breakdown, including pie charts if required (asset, currency, geography), additional Fund Information, with biographies and additional information on fees and charges, etc., Glossary (if required) and Fund Disclaimer.
Consistency is as important for the IR team as it is for the investor.
It is important to use ‘house’ colors and different shades to break up the page, but at the end of the day there is a balance to be struck between anodyne and creative in terms of look and feel of a factsheet.
Please reach out to the team if you are interested in a further discussion.