distributor or the Authorized Participant; ¾ If the asset manager otherwise finds it necessary to minimize the tracking error ratio. ¾ If the asset manager finds it necessary, it may adjust the period of suspension of accepting redemption requests.
Notwithstanding Paragraph (I), if the asset manager requests suspension of acceptance of redemption request without having made prior public notice of the suspension at the Korea Exchange or announcement of the suspension at the
business offices may revoke the
of the distributor or the Authorized Participant, the shareholder
absence of such revocation, the asset manager is deemed to have accepted request for redemption on the first business day following the termination of suspension period.
2) Procedures for Redemption
One Business Day before the Creation Request Date (T-1)
The asset manager prepares the Portfolio Deposit File representing the net asset value per Creation Unit and publicly announces it at the Korea Exchange and the Korea Securities Depository before the start of business on the following business day.
Redemption Request Date (T)
The shareholder Participant and shareholder has
deposits the shares in the account opened with the Authorized
makes a redemption request.
The same applies when
The Authorized Participant enters all redemption requests of a given day into the
system of the Korea Securities Depository, and requests redemption.
First Business Day from the Redemption Request Date (T+1)
The entities related to the management of the Fund i.e., the asset manager, the Authorized Participant and the Korea Securities Depository will prepare a statement of the assets to be settled on the second business day (T+2) following the redemption request date.
The asset manager will, based on the settlement statement determined on that
day, apply to the Korea Securities Depository for change in listing.
Second Business Day from the Creation Request Date (T+2)
The Authorized Participant and the trustee will deliver and receive the paid-in assets through the Korea Securities Depository.
The Authorized Participant who receives the redemption proceeds (the stocks) will deposit them into the shareholder’s account who requested the redemption, and the shareholder can, immediately upon such deposit, trade (sell) the stocks