Glossary › SRI (summary risk indicator)
The SRI (summary risk indicator) is the risk classification on a scale of 1 to 7 that every key information document under the PRIIPs Regulation must state.
The figure combines a market risk, calculated from fluctuations in value, with a credit risk, i.e. the danger that a debtor defaults. 1 stands for very low and 7 for very high risk. For private markets funds the calculation is based on valuations that fluctuate less than market prices; the SRI is therefore often lower than the economic risk would suggest.
Liquidity risk is not part of the calculation. That one cannot exit a semi-liquid fund at any time has to be described separately in the key information document. An SRI of 3 for a private credit fund therefore does not mean the same as a 3 for a bond ETF. The comparison makes most sense within the same asset class.
The risk indicator is available for 116 active funds. The most common value is 3 (42 funds); values range from 2 to 6. Distribution: 2: 3, 3: 42, 4: 36, 5: 8, 6: 27.
Lowest, middle and highest risk indicator · as at 16 Oct 2026
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