< Disclaimer for the English Overview
of the Delivery Prospectus of Listed Index Fund US Bond
(Currency Hedge) / (No Currency Hedge) >This document provides an overview of the Japanese “Summary Prospectus”(the “Delivery Prospectus”) of Listed Index Fund US Bond (Currency Hedge) /(No Currency Hedge) (the “Fund”) in English. The Japanese Delivery
Prospectus is the offering document. This document in English is not required bylaw or any regulation.
While every effort has been made to ensure the accuracy or completeness ofthe content of this document, Nikko Asset Management Co., Ltd. cannot
guarantee the accuracy or completeness as differences of interpretation may
arise between the English and Japanese languages. In the event of any
inconsistency between this document in English and the Japanese version, theJapanese version shall prevail, except to the extent prohibited by the applicablelaw of any jurisdiction where the units of the Fund are sold. In addition, thisdocument is not a translation of the entire Delivery Prospectus, but an English
overview of the Delivery Prospectus, which means that some of the informationin the Delivery Prospectus has been simplified, modified, or omitted.
Except as otherwise indicated herein, this material is based on the most recent
Japanese version of the Delivery Prospectus. In case of any update to or
modification of the Japanese version of the terms and conditions, there is no
guarantee that a corresponding update or modification will be made to thisEnglish document.
This English overview of the Delivery Prospectus has been prepared by Nikko
Asset Management Co., Ltd. for English speaking investors for information
purposes. Investors should not subscribe for these securities solely relying on
this document, as this is not a full translation of the original Delivery Prospectus.
As this English document may differ from the Japanese Delivery Prospectus as
explained above, this document does not contain or constitute, and should not
be relied upon as an offer or invitation to make an offer for the purchase of thesesecurities (including units of the Fund) to any person or entity in any jurisdiction.
Neither this material nor any part hereof may be reproduced, transmitted,
reprinted, or redistributed without the prior written authorization of Nikko AssetManagement Co., Ltd.
1

Explanatory Booklet on the Investment Trust(English Overview of the Delivery Prospectus)

April 11, 2024

Listed Index Fund US Bond
(Currency Hedge) / (No Currency Hedge)
Nickname: JoJo US Bond
(Currency Hedge) / (No Currency Hedge)

Open-end Investment Trust, Overseas, Bonds, ETF, Index Type
This document is not a translation of the entire Delivery Prospectus, but an English overview of the
Delivery Prospectus, which means that some of the information in the Delivery Prospectus has been
simplified, modified, or omitted.

●This prospectus
is publishedto the provisions of Article 13 of theEstablishedand managedpursuant
byFinancial Instruments and Exchange Act (No. 25 of 1948).
Please read this document carefully before deciding to subscribe to units of theFund.
●The prospectus for the Fund provided under Article 15, Paragraph 3 of the
Financial Instruments and Exchange Act (hereinafter referred to as the"Prospectus Issued upon Request") can be read or downloaded from thewebsite of the Management Company. You can also obtain a copy of the Prospectus
Issued upon Request from a Distributor. If you do so, please make a personal record to that
effect.
●This document includes the main contents outlined in the trust deeds. The complete text ofthe trust deeds is provided in the Prospectus Issued upon Request.
●For information on the NAV or Distributors of the Fund, please contact the Management
Company.
Management Company (the party issuing investment instructions for the Fund)
Nikko Asset Management Co., Ltd.
Registration Number: Director of the Kanto Local Financial Bureau (Financial instruments
firms) No. 368
Website: www.nikkoam.com/+813-6447-6653 (9 a.m.-5 p.m., excluding Saturdays, Sundays and public holidays)
Trustee (the party responsible for custody and management of Fund assets)
Sumitomo Mitsui Trust Bank, Limited
Established and managed by

Nikko Asset Management Co., Ltd.
2

● When a significant amendment is made to the content of the Funds, we will confirm theintention of investors (beneficiaries) in advance under the Act on Investment Trust andInvestment Corporations (No. 198 of 1951).

● The Fund assets are classified and managed by the Trustee under the Trust Act (No. 108 of
2006).
● In connection with the invitation for subscription to Listed Index Fund US Bond (Currency
Hedge) and Listed Index Fund US Bond (No Currency Hedge), which is extended by way of thisprospectus, the Management Company filed securities registration statements with the DirectorGeneral of the Kanto Local Finance Bureau on April 10, 2024 pursuant to the provisions ofArticle 5 of the Financial Instruments and Exchange Act. These filings became effective on thenext business day after the filing date.

Product Classification
Unit-Type/

Segmentation by Attribute

Eligible

Open-end

Eligible Investments Independent Supplementary

Investment

MarketTrust(Source of

Segment

Classification

Eligible
Investments

Income)Timing of

GeographicalAccounting

Areas of

PeriodInvestment

Investment

Currency

Index

Category

Hedging

Followed
Other (S&P

Currency

Other Assets

Hedge(Investment
Open-end

Overs
eas

Trust
Bonds

ETF

Index type

Securities(Bonds,No

PublicCurrency

Bonds))Yes(Fullhedging)
SemiannuallyNorth America

Fund OfUS Treasury
Bond 7-10
Year Index(TTM JPY
Hedged))Funds

Other (S&P
US Treasury
No hedge

Hedge

Bond 7-10
Year Index(TTM JPY))

Please refer to the Investment Trusts Association, Japan website for definitions of products classification and segmentation by attribute athttps://www.toushin.or.jp/.

Management Company Details
Name:
Date of establishment:
Capital:Nikko Asset Management Co., Ltd.
December 1, 1959
17,363.04 million yen

Total net asset value of investment trust assets under management:

28,894.6 billion yen(As of the end of January 2024)

Listed Index Fund US Bond (Currency Hedge) may be referred to as “Currency Hedge” and Listed Index FundUS Bond (No Currency Hedge) may be referred to as “No Currency Hedge”.

3Objective and Characteristics of the Funds
Objective of the Funds
The Funds seek to achieve the net asset value per unit to track the performance of thebenchmark index by investing mainly in all or portion of separately stipulated investment
trust securities.
* The benchmark index for Currency Hedge is S&P US Treasury Bond 7-10 Year Index(TTM JPY Hedged) and the benchmark index for No Currency Hedge is S&P US
Treasury Bond 7-10 Year Index (TTM JPY). As the Funds track total investment returnsof US treasury bonds with maturities of 7-10 years, they are classified into one fund witha currency hedge and one fund with no currency hedge.

Copyrights to S&P US Treasury Bond 7-10 Year Indexes“Standard & Poor's®” and “S&P®” are registered trademarks owned by Standard & Poor's Financial
Services LLC. Nikko Asset Management Co., Ltd. is licensed to use these trademarks. Standard &Poor’s and its related companies do not sponsor, recommend, sell, or promote Listed Index Fund US
Bond (Currency Hedge) and Listed Index Fund US Bond (No Currency Hedge) (hereinafter, the“Funds”), and makes no expression, guarantee, or condition on the suitability of investment in theFunds.
The Funds are not sponsored, endorsed, sold, or promoted by Standard & Poor’s Financial Services LLC
and its related companies (hereinafter, “S&P”). S&P makes no expression, condition or warranty, express
or implied, as specified to the owners of the Funds’ units or any member of the public regarding theadvisability of investing in securities generally or in the Funds particularly, or in the ability of the S&P US
Treasury Bond 7-10 Year Index to track the overall market. The relationship of S&P and Nikko AssetManagement Co., Ltd. is only in respect of granting the license to use the registered trademarks S&P and
the S&P US Treasury Bond 7-10 Year Index. S&P has no obligation to consider requests from Nikko AssetManagement's requests or owners of the Funds’ units in determination, creation, and calculation of the
S&P US Treasury Bond 7-10 Year Index. S&P has no responsibility for, or involvement in, determining thetimings or prices of the Funds, or determining or calculating how to convert units of the Funds into cash.
S&P assumes no obligation regarding, nor does it take any responsibility for, management, marketing, ortrading of the Funds whatsoever.
S&P does not make any guarantee of the accuracy or completeness of the calculation or basic data of the
S&P US Treasury Bond 7-10 Year Index. S&P takes no responsibility for any error, lack, or fault in the S&P
US Treasury Bond 7-10 Year Index. S&P and ASX make no explicit or implicit warranty, condition, or
expression whatsoever as to the results to be obtained by Nikko Asset Management Co., Ltd., owners of
the Funds’ units, or any other persons or organizations from the use of the S&P US Treasury Bond 7-10
Year Index or the data contained therein. S&P expressively disclaims all warranties or conditions ofmarketability or suitability for a particular purpose or use of the S&P US Treasury Bond 7-10 Year Index or
the data contained therein, and makes no guarantee, expression, or condition, express or implied, on
marketability or suitability of the Index or the data contained therein.
Without limiting any of the foregoing, S&P is not responsible for any special, punitive, indirect, orconsequential damages (including lost profits) arising from the use of the data contained therein, even if
notified of the possibility of such damages in advance.

4Characteristics of the Funds●While the Funds are contractual-type investment trusts, they are structured
differently from ordinary investment trusts with respect to the following points:

Units are listed on Tokyo Stock Exchange and can be traded at any
time during trading hours.
・Units may be traded in blocks of one unit (as of the date when the securities
registration statement was filed).
・Brokers determine trading commissions.
・The method of trading is generally the same as that for stocks.
*Please contact your broker for further information.
●The Funds of Funds invest in securities held for investment trusts.
◆ Currency Hedge
US Bond Index Fund Currency Hedge (for Institutional Investors)
This fund seeks to achieve results that correlate to the movements of the S&P US Treasury
Bond 7-10 Year Index (TTM JPY Hedged).
Money Account Mother FundThis fund seeks to achieve stable returns through stable management by investing in publicand corporate bonds.
◆ No Currency Hedge
US Bond Index Fund No Currency Hedge (for Institutional Investors)
This fund seeks to achieve results that correlate to the movements of the S&P US Treasury
Bond 7-10 Year Index (TTM JPY).
Money Account Mother FundThis Fund seeks to achieve stable returns through stable management by investing in publicand corporate bonds.

5Structure of Funds
US Bond I ndex Fund・
Cur r ency Hedge

US Bond I ndex Fund・
No Cur r ency Hedge

Investment Restrictions
・The Funds will not directly invest in securities other than those held for investment trusts, short term
corporate bonds, etc., commercial paper, and designated money in trust.
・There is no restriction on the investment ratio for assets denominated in foreign currencies.
Distribution Policy
・As a general rule, the full amount of dividends and other income arising from the trust assets is
distributed after deduction of expenses.
*There is no guarantee for the amount and payment of dividends in the future.

6

Investment Risks
Please refer to “Matters to Consider” on our website below for the related risk.
https://en.nikkoam.com/etf/1486-us-bond-no-currency-hedge
https://en.nikkoam.com/etf/1487-us-bond-currency-hedge

Past Performance
Please refer to “Net Asset Value and Performance” on our website below for the past
performance.
https://en.nikkoam.com/etf/1486-us-bond-no-currency-hedge
https://en.nikkoam.com/etf/1487-us-bond-currency-hedge

7Procedures, Fees, and Other Items■ Subscription Memorandum
Subscription Units

Units to be determined by the distributors starting at no less than 500*Please contact the distributor.

Subscription Price

The NAV as of the next business day on which the subscription is accepted.

Subscription
Payment

To be paid by the day indicated by the distributor.
One unit of at least 500 units

Redemption Units*Units to be determined by the distributor.
*A beneficiary may ask a distributor to buy back his or her units where the total
number of units owned is less than the minimum trading unit for the units
established by the stock exchange. Please contact the distributors for details.

Redemption Price

The NAV as of the next business day on which the redemption is accepted.

Redemption
Proceeds

As a rule, payment will be made from the fifth business day after and including the
day on which a request for redemption is made.

Business Hours for
Subscription and
Redemption

As a rule, applications for subscriptions and redemptions that are completed by 3
p.m. on the days distributors are open for business are deemed to have been
accepted on that day. It must be pursuant to the procedures established by the
distributor.

Subscription Period

From April 11, 2024 to October 10, 2024
*The subscription period can be renewed by filing another securities registration
statement before the expiration date shown above.

Even on the days distributors are open for business, applications for subscriptions
will not be accepted on the days below. Please contact the distributor for moredetails.

Non-acceptance Days
for Subscriptions

1)

When the application day for subscriptions is two business days prior to theaccounting date. (For a period of two business days, beginning threebusiness days prior to the accounting date when the accounting date falls on
a non-business day.)2)

When the application day for subscriptions is non-business day for New Yorkstock exchange or banks in New York.

3)

In addition to the days referred to in 1) and 2) above, any time themanagement company determines that unavoidable circumstances may
prevent it from making investment in accordance with the basic policies set
forth in the trust deeds.

Even on the days distributors are open for business, applications for redemptions
will not be accepted on the days below. Please contact the distributor for moredetails.

Non-acceptance Days 1)
for Redemptions

When the application day for redemptions is for a period of two businessdays, beginning three business days prior to the accounting date. (For aperiod of three business days, beginning four business days prior to theaccounting date when the accounting date falls on a non-business day.)2)

When the application day for redemptions is non-business day for New York8

stock exchange or banks in New York.
3)

In addition to the days referred to in 1) and 2) above, any time themanagement company determines that unavoidable circumstances may
prevent it from making investment in accordance with the basic policies set
forth in the trust deeds.

Restrictions on
Redemptions

Based on the size or product qualities of the Funds, restrictions may be placed on
the timing or volume of large redemption units to avoid adverse effects on theFunds' management.

Suspension orCancellation of
Subscription,
Redemption
Applications

The management company may suspend acceptance of applications forsubscription or requests for redemptions, or cancel applications for subscriptions
or requests for redemptions that have already been accepted in the event that
the Funds are unable to invest in target investment trust securities, exchanges of
the target investment trust securities are no longer possible, trading on a stock
exchange is suspended, trading of foreign exchange is suspended, settlement
functions are halted, or the management company determines that there aresome other unavoidable reasons.

Trust Term

Unlimited (launch date: August 29, 2016)
Early termination is possible in any of the following cases:<Listed Index Fund US Bond (Currency Hedge)>・If the units are delisted from all the financial instruments exchanges on which
they have been listed.
・If S&P US Treasury Bond 7-10 Year Index (TTM JPY Hedged) is discontinued.
・If the management company or trustee deem it necessary to amend the trust
deed because of a change in the calculation method of S&P US Treasury Bond
7-10 Year Index (TTM JPY Hedged), but such change to the trust deed is notmade as it does not meet the written resolution requirement.

Early Termination<Listed Index Fund US Bond (No Currency Hedge)>・If the units are delisted from all the financial instruments exchanges on which
they have been listed.
・If S&P US Treasury Bond 7-10 Year Index (TTM JPY) is discontinued.
・If the management company or trustee deem it necessary to amend the trust
deed because of a change in the calculation method of S&P US Treasury Bond
7-10 Year Index (TTM JPY), but such change to the trust deed is not made as it
does not meet the written resolution requirement.
Early termination may be carried out in any of the following events:
・Net assets of each of the Funds fall below JPY 500 million
・It is deemed advantageous for beneficiaries, or・Unavoidable circumstances arise.

Closing of AccountOn the 10th day of January and July each year.
Distributions are paid twice a year in accordance with the income distribution policy.

Income Distribution*As a rule, the trustee shall transfer income to beneficiaries to the bank accountdesignated in advance by the beneficiary on the day specified by the managementcompany but within 40 days from the end of each calculation period. When abeneficiary has signed a separate agreement with his or her broker in connection
with the treatment of income distribution, payment will be made pursuant to theprovisions of such agreement.

9

Maximum TrustMoney

JPY 1 trillion for each of the Funds

Notifications are posted on the management company website.
Public Notification

Investment Reports

URL: www.nikkoam.com/*In the event that the notification cannot be posted due to unavoidable
circumstances, this will be published in The Nikkei Shimbun.

As defined in the Act on Investment Trusts and Investment Corporations,investment reports are not prepared and published.
For tax purposes, the Funds are treated as exchange-traded funds (ETFs).
・Publicly-offered Equity Investment Trusts are eligible for the Nippon Individual
Savings Accounts (NISA) if they meet certain requirements under the tax law.

Tax Treatment

・Each Fund is eligible for the "Growth Quota (Specific Tax Exemption
Management Account)" under the NISA, but the handling may differ depending on
the distributor. Please contact your distributor for details.
・The dividends received deduction will not apply.
・The system excluding dividends from gross revenue will not apply.

10

There is additional information on this page that does not appear on the original
Japanese Delivery Prospectus.

Fund Expenses and Taxes
Fund Expenses
Expenses to be borne directly by investors
Independently set by Distributors
Subscription
Fee*Please contact your distributor for further information.
*Subscription fee is compensation for explanation and information providing about theFunds or investment environment, and is also including expense of clerical processingof the subscription.
Independently set by Distributors

Redemption
Fee*Please contact your distributor for further information.

Amount to be
Retained in
Trust Assets

Not applicable*Exchange fee is compensation for clerical processing of the exchange.

Costs paid indirectly by the customer for the trust assets (paid from the Funds)
TER(TotalExpenseRatio)

Currency Hedge: 0.2044% / No Currency Hedge: 0.2232%(TER includes Trust Fee, management fee and other costs below.)* This represents the actual TER for the period of January 11, 2023 - January 10, 2024.
No more than 0.1045% (0.095% excluding taxes) per annum of the daily total NAVsof the Funds.
The investment management fee is daily recorded and paid out of the trust
assets at the end of each calculation period or at the time of termination of theTrust.
<Distribution of Investment Management Expenses (annual rate)>
When the investment management expense is 0.095%, as of the date of filing of the
securities registration statement:

Investment
Management
Expenses(Trust fee)

Investment Management Expenses(Trust fee)
=NAV of investment period X Trust fee rate

The Funds

Total

Management
Company:

Trustee0.095%

0.070%

0.025%

Management
Company
Trustee

Compensation for investment
management
Compensation for administration ofassets under management andexecution of orders from managementcompany*Figures are excluding tax. Consumption tax will be added.

11

TargetInvestment
Trust
Securities

Annual rate of approx. 0.0715%(0.065% excluding tax) of the total net assets

Approx. 0.176%(0.16% excluding tax) per annum of net assets
Actual Cost

※Subject to change based on changes in the constituent issues or weightingof the target investment trust securities.

Not more than 0.1% per annum of the daily total NAVs of the Funds
The following expenses are paid out of the trust assets at the times specified
by the management company: 1. Expenses for the preparation and distribution
Expenses of prospectuses; 2. Cost for accounting and its incidental operations; 3. Cost
(Expenses for for preparation of financial summary statement (including the cost to outsource
preparation of the work involved in 1. - 3.); 4. Auditing fee; 5. Expenses for listing the Funds;
prospectus
and 6. Royalties for S&P US Treasury Bond 7-10 Year Index (TTM JPY
and other
Hedged) and Royalties for S&P US Treasury Bond 7-10 Year Index (TTM
expenses)
JPY).
Other
Expensesand Fees* Auditing fee is an expense paid to the audit firm for the auditing of theFunds.
Brokerage commissions on securities in the portfolio, expenses for custody ofassets in foreign countries, interest on borrowings, interest on advances, andfees related to securities lending (if securities lending occurs, the amount isobtained by multiplying a lending fee, which is a source of income for the
Brokerage
trust assets, by a figure not exceeding 0.55 (0.5 excluding taxes) as of theCommissions date of the filing of the securities registration statement) are paid out of theand othertrust assets each time they are incurred. These fees are incorporated in the TER
fees
stated.
* The figures for items such as the rate and maximum amount cannot beprovided in advance as they fluctuate in line with investment performance andother factors.

The total amount of expenses of the Funds to be borne by investors varies according to holding lengthand investment status, and thus cannot be shown.

12

Tax Treatment
Tax treatment for individual investors
1) Taxation upon sale of Units
・Gains on sale (capital gains) are deemed to be income from transfer and thus have to be filed todeclare for separate taxation at 20.315%. When a beneficiary has chosen a designated accountwith tax withholding (an account with tax withholding at the taxpayer's option), tax will be withheld
at source at 20.315%. (As a general rule, tax filing is not necessary.)
2)

Taxation upon receipt of income distributions
・Income distributions are regarded as dividend income, and tax is withheld at source at 20.315%.
(As a general rule, tax filing is not necessary.) You can also file a tax return, and choose either
separated taxation, based on declaration, or consolidated taxation (under which tax credits for
dividends will not apply).

3)

Taxation upon cancellation or termination
・Gains upon cancellation or termination (capital gains) are deemed to be income from transfer andthus have to be filed to declare for separate taxation at 20.315%. When a beneficiary has chosena designated account with tax withholding (an account with tax withholding at the taxpayer's
option), tax will be withheld at source at 20.315%. (As a general rule, tax filing is not necessary.)- By filing a tax return, you can offset losses upon sale (capital losses) against capital gains fromlisted stocks, dividends etc. from listed stocks, and interest income from public and corporate
bonds and such like (as long as separated taxation has been chosen upon declaration). In
addition, gains on sale (capital gains), income distributions, and interest income from public andcorporate bonds etc. (if separated taxation has been chosen upon declaration) can be offset
against capital losses from listed stocks and such like.
- When investing through the Nippon Individual Savings Account (NISA), dividend income and transfer
income from newly purchased publicly offered equity investment trusts are exempt from taxation for an
unlimited period up to a certain amount each year. The tax exemption is available only to those whomeet certain conditions, such as opening a tax-exempt account with a distributor, and who purchaseproducts that meet the requirements of the tax law. For details, please contact the distributor.
- In cases of being applied to the foreign tax deduction, tax on distributions may differ from theaforementioned descriptions.
- The aforementioned descriptions do not apply to Japanese corporations.
- Above tax rates are as of the date when the securities registration statement was filed, so those may
change in the event that tax laws are revised. We recommend that investors consult a tax or similar
specialist for details of tax treatment.

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