< Disclaimer for the English Overview of the Delivery
Prospectus of Listed Index Fund International Emerging
Countries Equity (MSCI EMERGING)>
This document provides an overview of the Japanese “Summary Prospectus” (the “Delivery
Prospectus”) of Listed Index Fund International Emerging Countries Equity (MSCI EMERGING)(the “Fund”) in English. The Japanese Delivery Prospectus is the offering document. This
document in English is not required by law or any regulation.
While every effort has been made to ensure the accuracy or completeness of the content of
this document, Nikko Asset Management Co., Ltd. cannot guarantee the accuracy orcompleteness as differences of interpretation may arise between the English and Japanese
languages. In the event of any inconsistency between this document in English and theJapanese version, the Japanese version shall prevail, except to the extent prohibited by theapplicable law of any jurisdiction where the units of the Fund are sold. In addition, 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.
Except as otherwise indicated herein, this material is based on the most recent Japaneseversion of the Delivery Prospectus. In case of any update to or modification of the Japaneseversion of the terms and conditions, there is no guarantee that a corresponding update or
modification will be made to this English document.
This English overview of the Delivery Prospectus has been prepared by Nikko AssetManagement 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 fulltranslation of the original Delivery Prospectus.

As this English document may differ from theJapanese Delivery Prospectus as explained above, this document does not contain orconstitute, and should not be relied upon as an offer or invitation to make an offer for thepurchase of these securities (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 Asset Management Co., Ltd.

Explanatory Booklet on the Investment Trust(English Overview of the Delivery Prospectus)
April 20, 2024

Listed Index FundInternational Emerging Countries
Equity (MSCI EMERGING)
Nickname: JoJo MSCI EMERGING Equity
Open-end Investment Trust, Overseas, Equities, 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 published pursuant to the provisions of Article 13 of the Financial
Instruments and Exchange Act (No. 25 of 1948).
Please read this document carefully before deciding to subscribe to units of the Fund.
●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 the website of the Management Company. You
can also obtain a copy of the Prospectus Issued upon Request from a Distributor. If you do so, please makea personal record to that effect.
●This document includes the main contents outlined in the trust deeds. The complete text of the 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)
The Sumitomo Mitsui Trust & Banking Co., Ltd.

Established and managed by

Nikko Asset Management Co., Ltd.

● When a significant amendment is made to the content of the Fund, we will confirm the intentionof investors (beneficiaries) in advance under the Act on Investment Trust and Investment
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 International Emerging
Countries Equity (MSCI EMERGING), which is extended by way of this prospectus, theManagement Company filed a securities registration statement with the Director-General of the
Kanto Local Finance Bureau on April 19, 2024 pursuant to the provisions of Article 5 of the Financial
Instruments and Exchange Act. The filing became effective on the next business day after the filingdate.

Product Classification
Unit Type/
Open-end
Investment Type

Open-end

Eligible
MarketOverseas

Eligible
Investments(Source ofIncome)Equities

Segmentation by AttributeIndependent Supplementary
Segment
Classification

ETF

Index typeEligible Investments

Other Assets(Investment Trust
Securities (Equities inGeneral))Timing of
Accounting
PeriodAnnually

GeographicalAreas ofInvestment

Investment
Category

Emerging

Fund of
Funds

Currency
Hedge

Index Followed

No hedge

Other (MSCI
Emerging
MarketIndex)

Please refer to the Investment Trusts Association, Japan website for definitions of products classification and segmentation by attribute athttps://www.toushin.or.jp/.
* “Currency Hedging” under segmentation by attribute shows whether or not hedging is performed on currency risk against theyen.

Management Company Details
Name:

Nikko Asset Management Co., Ltd.

Date of establishment: December 1, 1959
Capital: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)

Objective and Characteristics of the Fund
Objective of the FundThis Fund seeks the net asset value per unit to track the performance of the yen-converted
MSCI EMERGING Market Index by mainly investing in the separately specified investment
trust securities.
*The MSCI EMERGING Market Index is an equity index developed by MSCI Inc.
calculated to be an index of the total return of equities in emerging countries in the world
weighted by the market capitalization of each respective market.

（MSCI EMERGING Market Index）

Aggregate market
value at the time of
calculation
Aggregate market
value at base point in
time

×100

Copyrights to the "MSCI EMERGING Market Index"
This Fund is not supported, sold, or promoted by MSCI Inc. (hereinafter referred to as the "MSCI"), itsaffiliated companies, information provider, and other third parties who were involved or related in edit,
calculation, or creation of MSCI index (hereinafter referred to as the "MSCI related companies"). MSCI index
is an exclusive property of MSCI. Name of MSCI and MSCI index is a service mark of MSCI and its affiliatedcompanies, and Nikko Asset Management Co., Ltd. has been licensed to use it for a specific purpose. MSCI
related companies make no representation or warranty, expressed or implied, to the owners or issuing
company of the Fund or any other members or organizations regarding the suitability of investing in funds
generally or in the Fund particularly or the ability of MSCI index to track return of the corresponding stock
markets. MSCI or its related companies are licensers of MSCI index which were determined, edited,
calculated by MSCI regardless of specific trademarks, service marks or names, and the Fund or issuing
company, owner and other members or organizations of the Fund. MSCI related companies are notresponsible for considering the requests of issuing company or owner of the Fund, or other members ororganizations when determining, editing and calculating MSCI index. MSCI related companies are notresponsible for or has participated in the determination of the timing of, price at, or amount of the Fund to
be issued or in the determination or calculation of the equation by which the Fund to be converted into cash.
MSCI related companies are not under any obligation to or take responsibility for the issuing company orowner of the Fund, or other members or organizations regarding management, marketing, or subscriptionof the Fund.
MSCI obtains information required for calculation and use of MSCI index from the sources they think arereliable. MSCI related companies do not guarantee of the originality, accuracy or completeness of MSCI
index or its data included. MSCI related companies do not guarantee, expressed or implied, the result
obtained by the use of MSCI index or its data included by the issuing company or owner of the Fund orother members or organizations. MSCI related companies are not responsible for error, omission or
discontinuation of MSCI index or its data included. MSCI related companies do not guarantee, expressedor implied, the accuracy of MSCI index and its data included. MSCI related companies expressly disclaim
all the warranty regarding the suitability of market characteristics or special purpose concerned. Without
limiting any of the foregoing, MSCI related companies are not responsible for any direct, indirect, special,punitive, or consequential damages, and all other damages (including lost gains), even if notified of thepossibility of such damages.
No purchasers, distributors or owner or other members or organizations of the Securities, the Product, or
the Fund can use or mention MSCI's name, trademark or service mark for the purpose of sponsor,
endorsement, sales, or sales promotion of the Securities without asking MSCI beforehand whether MSCI’s
approval is required. Members or organizations cannot mention the relationship with MSCI without obtainwritten approval from MSCI beforehand.

Characteristics of the Fund
●While the Fund is a contractual-type investment trust, it is structured differently fromordinary investment trusts with respect to the following points:

Units are listed on Tokyo Stock Exchange and can be tradedat any time during trading hours.
・Units may be traded in blocks of 10 units (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.
●This Fund of Funds invests on the securities held for investment trust.
Index Fund Emerging Countries Equity (for Institutional Investors)

The Fund seeks the net asset value per unit to track the performance of the yen-converted MSCIEMERGING Market Index by mainly investing in the “International Emerging Stock Index MSCIEmerging No Hedge Mother Fund”.

Money Account Mother Fund:This Fund seeks to ensure stable returns through stable investment in public and corporate bonds.

Fund Structure

Investment Restrictions
・This fund will not invest in any portfolio, stocks and bonds other than securities held for investment
trust, short-term corporate bonds, etc., commercial paper and designated money 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 on the payment or the amount of dividend.

Investment Risks
Please refer to "Matters to Consider" on our website below for the related risk.
https://en.nikkoam.com/etf/1681-emerging-countries-equity

Past Performance
Please refer to “Net Asset Value and Performance” on our website below for the past performance.
https://en.nikkoam.com/etf/1681-emerging-countries-equity

Procedures, Fees,
Fees,and
andOther
OtherItems
Items
Procedures,■ Subscription Memorandum
Subscription Units
Subscription Price
Subscription
MethodRequest for
Redemption

Redemption Price

Units to be determined by the distributors starting at no less than 2,000*Please contact the distributor.

The NAV as of the next business day on which the subscription is accepted.
To be paid by the day indicated by the distributor.
Unit of 2,000 or more
*Units to be determined by the distributor.
* A beneficiary may ask a Distributor to buyback 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.
The NAV on the following business day after the redemption is accepted after
deducting the trust assets reserves.

Redemption

As a rule, payment will be made from the ninth business days after and including

Proceeds

the day on which a request for a redemption is made.

Business Hours for As a rule, applications for subscription and redemption that are completed by 10 a.m.
Subscription and on the days Distributors are open for business are deemed to have accepted on thatday.
Redemption
Subscription
PeriodFrom April 20, 2024 to October 18, 2024
*The subscription period can be renewed by filing another securities registration
statement prior to the expiration date shown above.
On the days Distributors are open for business, applications for subscriptions will
still not be accepted on the days below. Please contact the distributors for details.

1) When the application day for subscriptions is two business days prior to theaccounting date. (For a period of two business days, beginning three businessdays prior to the accounting date when the accounting date falls on nonbusiness day.)2）When the application day for subscriptions is non-business day for the following
Non-acceptance Days
exchanges and banks: London Stock Exchange, the New York Stock Exchange,
for Subscriptions
the Hong Kong Stock Exchange, the Korea Stock Exchange, the Taiwan Stock
Exchange, the Sao Paulo Stock Exchange, the Singapore Stock Exchange, theMumbai Stock Exchange, the Johannesburg Stock Exchange, the Swiss Stock
Exchange, banks in London, New York, or Hong Kong.
3） In addition to the days referred to in 1）and 2), any time the Management Company
determines that unavoidable circumstances may prevent it from making
investment in accordance with the basic policies set forth in the trust deeds.

On the days Distributors are open for business, applications for redemptions will
still not be accepted on the days below. Please contact the distributors for details.
1) When the application day for redemptions is for a period of six business days,
beginning seven business days prior to the accounting date. (For a period ofseven business days, beginning eight business days prior to the accounting
date when the accounting date falls on non-business day.)Non-acceptance Days 2）When the application day for redemptions is non-business day for the following
exchanges and banks: London Stock Exchange, the New York Stock Exchange,
for Redemptions
the Hong Kong Stock Exchange, the Korea Stock Exchange, the Taiwan Stock
Exchange, the Sao Paulo Stock Exchange, the Singapore Stock Exchange, theMumbai Stock Exchange, the Johannesburg Stock Exchange, the Swiss Stock
Exchange, banks in London, New York, or Hong Kong.
3） In addition to the days referred to in 1）and 2), any time the Management Company
determines that unavoidable circumstances may prevent it from making
investment in accordance with the basic policies set forth in the trust deeds.

Restrictions
Redemption

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

Suspension orCancellation of
Subscription,
Redemption
Applications

The Management Company may suspend acceptance of applications forsubscription or requests for redemption, or cancel applications for subscription orrequests for a redemption that have already been accepted in the event that theFund is unable to invest in target investment trust securities, exchanges of thetarget investment trust securities are no longer possible, trading on a stock
exchange is suspended, trading of foreign exchange is suspended, settlement
functions are halted, emergencies in invested countries (such as financial crises,
government default due to financial reasons, significant policy changes orintroductions of new regulations including asset freezes, natural disasters, coups
or significant political changes, or war) results in market suspension or substantial
decrease in liquidity or it determines that there is a possibility that investments inaccordance with the basic investment policies set forth in the trust deeds will behindered or circumstances beyond their control develops.

Trust Term

Unlimited (launch date: January 22, 2010)

Early Termination

Early termination is possible in any of the following cases:
・If the Units are delisted from all the financial instruments exchanges on which they
have been listed.
・If the MSCI EMERGING Market Index is discontinued.
・If any amendment to the trust deed deemed necessary by the Management Company
or Trustee because of a change in the calculation method or similar of the MSCIEMERGING Market Index is not accepted by a written resolution.
Early termination may be carried out in any of the following cases:
・If the total net asset value falls below 500,000,000 yen;・If early termination is deeded advantageous for beneficiaries, or・If any unavoidable circumstances arise.

Closing of AccountJanuary 20 each year

Income Distribution

Maximum Amountof Trust Money
Public Notification
Investment
Reports

Tax Treatment

Dividends are paid once a year in accordance with the following income distribution
policy:*In general, the Trustee will pay to each beneficiary their income distribution by
wire transfer on the day specified by the Management Company but within 40
days of the end of each calculation period in the bank account designated inadvance by the beneficiary. When a beneficiary has signed a separate agreementwith his or her broker in connection with the treatment of income distribution,
payment will be made pursuant to the provisions of such agreement.
Equivalent to 1 trillion yen
Notifications are posted on the Management Company website.
URL:www.nikkoam.com/*In the event that the notification cannot be posted due to unavoidable
circumstances, this will be published in The Nikkei.
As defined in the Act on Investment Trust and Investment Corporations, investment
reports are not prepared and published.
For tax purposes, the Fund is treated as an exchange-traded fund (ETF).
・Publicly-offered Equity Investment Trusts are eligible for the Nippon Individual
Savings Account (NISA) if they meet certain requirements under the tax law.
・The Fund is eligible for the "Growth Quota (Specific Tax Exemption Management
Account)" and the "Installment-type Quota (Specific Accumulated Investment
Account)" under the NISA, but the handling may differ depending on the distributor.
Please contact your distributor for details.
・The dividends received reduction will not apply.
・The system excluding dividends from gross revenue will not apply.

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

Found Expenses and Taxes
Fund Expenses
Expenses to be borne directly by investors
Subscription
Fee
Redemption
Fee

Independently set by Distributors*Please contact your Distributor for further information.
*Subscription Fee is compensation for explanation and information providing about theFund or investment environment, and is also including expense of clerical processingof the subscription.
Independently set by Distributors*Please contact your Distributor for further information.
*Exchange Fee is compensation for clerical processing of the exchange.

Amount to be
An amount calculated by multiplying NAV at the time of a redemption by 0.3%
Retained in(per unit)
Trust Assets
Costs paid indirectly by the customer for the trust assets (paid from the fund)TER
0.3212% (TER includes Trust Fee, management fee and other costs below)(TotalExpense※ This represents the actual TER for the period of January 23,2023 - January 19, 2024.
Ratio)

No more than 0.165%(0.15% excluding taxes) per annum of
the daily total NAV of the Fund.

The FundInvestment
Management
Expenses(Trust fee)

The investment management fee is daily recorded and paid out of thetrust assets at the end of each calculation period or at the time oftermination of the Trust.
<Distribution of Investment Management Expenses(annual rate)>
When above is 0.15％ as of the date of filing of the securities registration
statement:
Annual Trust Fee Rate
Management
Total
TrusteeCompany
0.15％
0.12％
0.03％
Management
Company

Compensation for investment
management
Compensation for administration ofassets under management andTrustee
execution of orders from Management
Company*Figures are excluding tax. Consumption tax will be added.
TargetInvestment
Trust Securities

・Approximately 0.099% (0.09% excluding tax) per annum of net assets.

Approximately 0.264%(0.24% excluding taxes) per annum of net
assets.
Expenses borneby the investors ※ The actual annual rate of trust fees paid by beneficiaries varies
depending on the percentage of target investment trust securities,changes to such investment trust securities and other factors.

OtherExpensesand Fees

Expenses
Expenses for
preparation ofprospectus andother expenses)

・No more than 0.1% per annum of the daily total NAV of the
Fund
Expenses for the preparation and distribution of prospectuses,
auditing fee, expenses for listing of the Fund, as well as royalties
for the "MSCI EMERGING Market Index" are paid out of the trust
assets at the times specified by the Management Company.
* Auditing fee is an expense paid to audit firm for auditing of the
Fund.
Brokerage commissions on securities in the portfolio, expenses forcustody of assets in foreign countries, interest on borrowings, interest on

Brokeragecommissions
and other fees

advances, and other fees are paid out of the trust assets each time they
are incurred.
* The figures for items such as the rate and maximum amount cannot
be provided in advance as they fluctuate in line with investment
performance and other factors.

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

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 account withtax withholding (an account with tax withholding at the taxpayer's position), tax will be withheld atsources 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%. (Asa general rule, tax filing is not necessary.) Investors can also file a tax return, and choose either
separated taxation, based on declaration, or consolidated taxation (under which the dividends
received deduction is available).
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 chosen adesignated 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 and corporate 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
who meet certain conditions, such as opening a tax-exempt account with a distributor, and whopurchase products 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 orsimilar specialist for details of tax treatment.