on the Korea Exchange.
Summary of Procedure for Redemption of the Fund
of the Portfolio
Deposit File (to
Korea Securities Depository
Receives and puts together the
*The asset manager applies to the KRX for change in listing on the KRX.
asset manager to redeem the shares
Prepares settlement statement notifies
Requests Authorized Participant redeem shares Requests
T+2 Surrenders shares and receives redemption proceeds (stocks and cash)
Withdraws shares from the account of the shareholder and deposits assets into that account.
Terminates the Fund partially
Receives and puts together the details of
Transfers assets to the Authorized Participant (by way of account transfer at the Korea Securities Depository) and confirms the details of such transfer.
) Restriction on Redemption
Notwithstanding the above redemption procedure, the shareholder may not request redemption of the shares in the event of establishing: ¾ establishing a record date for commingling of trust upon approval at the
meeting of shareholders; ¾ establishing a record date for distribution of proceeds upon termination of the Fund; and ¾ establishing a record date for payment of the dividend upon termination of the payment period of the dividend.
Transferring Assets at Creation and Redemption
Transfer of assets by the distributor or the Authorized Participant and the trustee upon creation or redemption of the Fund shall be effected by way of book-entry transfer between accounts of depositors prepared and kept by the Korea Securities Depository. Creation or termination of the Fund cannot be effected