X hits on this document

PDF document

kodex200_2.pdf - page 22 / 48





22 / 48

by way of deposit and withdrawal in specie.

  • Creation and redemption requests by the Authorized Participant, approvals thereof by the asset manager, and other duties including notification and confirmation of matters relating to creation or redemption shall be done through the Creation and Redemption System for Listed Stock Index Securities (the "KSD System") operated by the Korea Securities Depository. Requests, approvals, notification, confirmation, and other matters, shall be deemed to be effective if displayed on the KSD System.

    • 3.


  • 1)

    Payment of Dividend

    • Unlike other funds, this Fund does not distribute income earned during the fiscal year at the end of such fiscal year; instead, the Fund pays the beneficiaries cash held as Fund assets as follows, to minimize the tracking error rate due to excessive cash holding.

¾ Payment record date: The last business day of January, April, July and October; ¾ Time of payment: Within seven business days from the business day immediately following the payment record date; ¾ Payee: Shareholders as of the payment record date; ¾ Distributable Amount: An amount calculated based on the dividend rate determined by the asset manager; ¾ Public notice: The asset manager must give a public notice at the Korea Exchange of the details relating to payment of the dividend by five business days prior to the payment record date; and ¾ Payor: The distributor, the Authorized Participant, or securities companies at which the shareholder’s brokerage account (i.e., the account holding the shares as of the payment record date) is maintained.


Exceptions for Payment of Dividends

If the asset manager determines that it is more advantageous to not distribute dividends because there is not enough cash in the Fund or to minimize the tracking error rate, the asset manager may choose not to distribute dividends notwithstanding the above.

  • 2)

    Payment of Remaining Assets upon Termination of Fund

    • Upon termination of this Fund, the asset manager liquidates the remaining Fund Assets and pays them out to the shareholders in proportion to their shareholding as of the date of termination, as follows: ¾ Payment: Within seven business days following the date of termination. ¾ Net asset value to be paid: The net asset value of the remaining assets of the Fund as of the date immediately preceding the date of payment by the asset manager.

¾ Form of assets to be paid: The remaining assets are liquidated and paid in cash. ¾ Payee: Shareholders who hold shares of the Fund as of the termination date.


Document info
Document views63
Page views64
Page last viewedFri Oct 21 13:18:43 UTC 2016