Modern Slavery Act Statement
We believe we have a responsibility to ensure that our business is conducted in an ethical way andwe actively address social issues.
This statement sets out the approach taken by Nomura Asset Management U.K. Limited during thefinancial year ending 31 March 2024 towards identifying and preventing modern slavery and humantrafficking in its business and supply chains, as required under the UK Modern Slavery Act 2015
(the “Act”).
Organisational structure
Nomura Asset Management Co., Ltd (‘NAM’) is a leading global investment manager for some of theworld’s largest institutional investors, and has its headquarters in Tokyo, with overseas subsidiaries inLondon, Singapore, Kuala Lumpur, Hong Kong, New York, Frankfurt, Shanghai and Taipei. NAM is 100%
owned by Nomura Holdings Inc., which is the ultimate holding company of the Nomura Group.
Nomura Asset Management U.K. Limited (‘NAM UK’) is one of the NAM subsidiaries, based in London.
NAM UK manages assets for corporate and state pension schemes, sovereign wealth funds and financial
institutions including insurance companies, mutual funds and private banks. We provide a wide range ofinnovative strategies including single country, regional and global equity products, fundamental index
solutions and global fixed income strategies.

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Business and supply chains
NAM believes in the regional management of investment portfolios, which results in numerous cross borderdelegation arrangements whereby the local office delegates the management of non-regional mandates tothe relevant regional entity.
NAM UK is responsible for the management of global equity and fixed income mandates for clients basedin both the EMEA region and beyond. This includes a large proportion of Japanese domiciled funds forwhich we have been appointed as the sub investment adviser. In reverse, clients with Japanese equity
mandates, for example, have the management of their portfolios delegated to the NAM investment team inTokyo, with Pacific Basin equities managed by the offices in Singapore / Hong Kong. In each case, a subadvisory agreement with the relevant NAM office is entered into.
Other suppliers may include parties with whom NAM UK has entered into a distribution or similar
agreement, to distribute our products and services, business outsourcing contracts for investment
administration and IT services, and other ancillary services such as disaster recovery and business
continuity, data provision and maintenance, as well as other IT and general service providers.
We share our office in London with Nomura International plc (‘NIp’), although NAM UK is an entirely
separate entity. NIp is responsible for procurement of shared services and amenities such as premises,
Human Resources and the staff restaurant, and is part of the wider Nomura Europe Holdings plc groupwhich produces its own Modern Slavery Act statement.

Risk assessment and due diligence
NAM UK business and supply chain contractual arrangements are subject to a thorough due diligenceprocess, both before the business relationship commences and on an ongoing basis. This includes a risk
assessment which takes account of the type of service to be provided, the jurisdiction of the counterparty
and its regulatory status if appropriate, and any conflicts of interest which may arise. We may also use
input from global resources and bodies such as the Financial Action Task Force, Transparency
International and third party screening services with links to global sanctions and watchlists, Politically
Exposed Persons databases and adverse media screening facilities.

Our response to the Modern Slavery Act
Our analysis suggests that the nature of NAM UK’s service offering and that of its contractual
counterparties means the risk of involvement in modern slavery and human trafficking is low, and webelieve we do not currently have any third party relationships which raise any issues or concerns in thisarea. Nevertheless, we have a process to assess any potential modern slavery risks presented by new
suppliers, and our Vendor Policy, which is owned by the Executive Committee and is applicable to all NAM
UK employees, forms NAM UK’s framework, standards and procedures to be complied with whenmanaging third party vendor relationships, including checking whether there are any international standards
that the provider should adhere to, and, for UK firms in scope of the Act, whether the vendor has publisheda Modern Slavery statement on its website.
Our Modern Slavery Act statement is available on our website and also the UK Government’s ModernSlavery Registry (https://modern-slavery-statement-registry.service.gov.uk) and TISCReport(https://tiscreport.org), enabling our practices to be made known to the wider public.
The Board of NAM UK will regularly review the procedures we have in place to ensure NAM UK’s continued
compliance with the requirements of the Act.

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Staff awareness training
During the last 12 months, relevant staff have refreshed their awareness training from a leading UK law
firm, on the Modern Slavery Act 2015 and the processes and controls NAM UK has in place to comply withit.
NAM UK has a whistleblowing policy through which staff may report any concerns of malpractice without
fear of recrimination. An independent reporting service is also available to staff wishing to make ananonymous report.

The statement has been approved by the Board of Directors of Nomura Asset Management U.K.
Limited on 30 September 2024.

Dr Constant Eduard Maria Beckers
Chairman of the Board of DirectorsNomura Asset Management U.K. Limited3