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on the Korea Exchange.

Summary of Procedure for Redemption of the Fund

Asset

Announcement

Confirms

the

Manager

of the Portfolio

details

of

Deposit File (to

redemption

Shareholde r

Authorized Participant

Korea Securities Depository

Trustee

T-1

KRX, etc)

Receives and puts together the

details

of

redemption

and

*The asset manager applies to the KRX for change in listing on the KRX.

gives thereof

notification

shareholder thereof

the

and the

T

T+1

asset manager to redeem the shares

Prepares settlement statement notifies

Requests Authorized Participant redeem shares Requests

the

to the

the

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

the

redemption

and

gives thereof

notification

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.

  • 3)

    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

21

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