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 termination date) is maintained.
Listing and Trading of Shares
To provide liquidity, this Fund will be listed on the Korea Exchange within 30days from execution of the trust agreement, pursuant to the trust deed. After the listing, trading of the shares of the Fund will be governed by the Securities Listing Regulations and subordinate rules of the KRX.
¾ Size: The principal of the Fund must be not less than KRW 10 billion, and the
number of the shares issued must be not less than 100,000. ¾ Liquidity: There must be two or more Authorized Participants. ¾ Asset composition: the Fund must hold 95% or more of the aggregate market
price of the assets composing the benchmark index and 50 % or more of the number of stocks comprising the Index.
Conditions for De-listing
¾ Size: If the principal of the Fund is less than KRW 5 billion, or the number of shares are less than 50,000 units and not remedied within 3 months; ¾ Number of shareholders: If the number of shareholders falls below 100, except in the fiscal year where the Fund is newly listed; ¾ Trading volume: If the average monthly volume of shares traded on the KRX from year start to year end is less than 100,000 units, except in the fiscal year where the Fund is newly listed. If trading has been suspended for at least one month, the following average monthly trading volume is applied:
Average monthly trading volume = [(Trading days out of 12 months / Trading days of the relevant shares out of 12 months) x Total trading volume for 12 months] /12
¾ Tracking error rate: If the tracking error rate(the difference between the fluctuation rate of the net asset value per unit of the Fund and the fluctuation rate of the benchmark index) during at lest three months is 10 % or more. ¾ If the Korea Exchange determines that de-listing of the Fund is necessary to protect the public interest and the investors.