< Disclaimer for the English Overview of
the Delivery Prospectus of
Listed Index Fund Emerging Bond >This document provides an overview of the Japanese “Summary Prospectus”(the “Delivery Prospectus”) of Listed Index Fund Emerging Bond (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 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 Emerging Bond
Nickname: JoJo Emerging Bond
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 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 make apersonal 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)
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 Fund, 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 Emerging Bond, which isextended by way of this prospectus, the Management Company filed a securities registration
statement with the Director-General of the Kanto Local Finance Bureau on April 10, 2024
pursuant to the provisions of Article 5 of the Financial Instruments and Exchange Act. The filingbecame effective on the next business day after the filing date.
Product Classification
Unit-Type/
Eligible
Open-end Eligible Investments
Investmen Market(Source oft TrustIncome)Open-end

Overs
eas

Independent
Segment

Bonds

ETF

Segmentation by AttributeSupplementaryClassification

Eligible
Investments

Index type

Other
Assets(Investment
Trust
Securities(Bonds,PublicBonds))

Timing of
Accounting
Period6 times
yearly(Bimonthly)

GeographicalAreas ofInvestment

Emerging

Investment
Category

Fund Of
Funds

Currency
Hedging

Index
Followed

Other(Bloomberg
Emerging
Markets Local
No hedge
Currency
Government 10% Country
Capped Index)

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

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)

3

Objective and Characteristics of the Fund
Objective of the FundThis Fund seeks the net asset value per unit to track the performance of the yenconverted Bloomberg Emerging Markets Local Currency Government - 10% Country
Capped Index by mainly investing in the separately stipulated investment trust
securities.
* Bloomberg Emerging Markets Local Currency Government - 10% Country Capped Index
is the total return of local currency-denominated emerging market bonds weighted by themarket capitalization. The index limits concentrated investments in just one country andexpresses fluctuations in emerging country bonds and currencies.

Bloomberg Emerging Markets Local Currency
Government - 10% Country Capped Index＝

4

Aggregate market value atthe time of calculation
Aggregate market value atbase point in time×100

Copyrights to "Bloomberg Emerging Markets Local Currency Government - 10% Country Capped
Index"“ Bloomberg®” and Bloomberg Emerging Markets Local Currency Government - 10% Country
Capped Index (hereinafter “The Index”) are service marks of Bloomberg Finance L.P. and its affiliates,
including Bloomberg Index Services Limited (“BISL”), the administrator of the index (collectively,“Bloomberg”), and have been licensed for use for certain purposes by Nikko Asset Management.
Listed Index Fund Emerging Bond (hereinafter “The Fund”) is not sponsored, endorsed, sold or
promoted by Bloomberg. Bloomberg does not make any representation or warranty, express or
implied, to the owners of or counterparties to the Fund or any member of the public regarding theadvisability of investing in securities generally or in the Fund particularly. The only relationship ofBloomberg to Nikko Asset Management is the licensing of certain trademarks, trade names andservice marks and of the Index, which is determined, composed and calculated by BISL without regard
to Nikko Asset Management or the Fund. Bloomberg has no obligation to take the needs of Nikko
Asset Management or the owners of the Fund into consideration in determining, composing or
calculating the Index. Bloomberg is not responsible for and has not participated in the determination of
the timing of, prices at, or quantities of the Fund to be issued. Bloomberg shall not have any obligation
or liability, including, without limitation, to the Fund customers, in connection with the administration,marketing or trading of the Fund.
BLOOMBERG DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE
INDEX OR ANY DATA RELATED THERETO AND SHALL HAVE NO LIABILITY FOR ANY ERRORS,OMISSIONS OR INTERRUPTIONS THEREIN. BLOOMBERG DOES NOT MAKE ANY WARRANTY,
EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY NIKKO ASSET MANAGEMENT,OWNERS OF THE FUND OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE INDEXOR ANY DATA RELATED THERETO. BLOOMBERG DOES NOT MAKE ANY EXPRESS OR
IMPLIED WARRANTIES AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY
OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE INDEX OR ANYDATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, TO THE MAXIMUMEXTENT ALLOWED BY LAW, BLOOMBERG, ITS LICENSORS, AND ITS AND THEIR RESPECTIVEEMPLOYEES, CONTRACTORS, AGENTS, SUPPLIERS, AND VENDORS SHALL HAVE NO
LIABILITY OR RESPONSIBILITY WHATSOEVER FOR ANY INJURY OR DAMAGES—WHETHERDIRECT, INDIRECT, CONSEQUENTIAL, INCIDENTAL, PUNITIVE OR OTHERWISE—ARISING IN
CONNECTION WITH THE FUND OR THE INDEX OR ANY DATA OR VALUES RELATING
THERETO—WHETHER ARISING FROM THEIR NEGLIGENCE OR OTHERWISE, EVEN IF
NOTIFIED OF THE POSSIBILITY THEREOF.

5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 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.
●This Fund of Funds invests in securities held for investment trust.
Emerging Markets Local Currency Government Index Fund (for Institutional
Investors)
This fund seeks the net asset value per unit to track the performance of the yenconverted Bloomberg Emerging Markets Local Currency Government - 10% Country
Capped Index by mainly investing in bonds denominated in the local currencies of
emerging countries.
Money Account Mother FundThis Fund seeks to achieve stable returns through stable management by investing inpublic and corporate bonds.

Fund Structure
Application

Investor (Beneficiary)

Investment

Listed Index Fund
Emerging Bond

Dividends
Cancellation
Redemption

Profits and Loss

Investment
Profits and Loss

Local Currency
Emerging
Government Bond
Index Fund(for Institutional
Investors)

Money AccountMother Fund

Investment
Profits and Loss

Investment
Profits and Loss

Bonds denominated inlocal currency of
emerging countries

Domestic public andcorporate bonds

Investment Restrictions
・The fund will not directly invest in portfolio, stocks and bonds other than securities held forinvestment trust, short term corporate bonds, etc., commercial paper and designated money intrust.
・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/1566-emerging-bond

Past Performance
Please refer to “Net Asset Value and Performance” on our website below for the past performance.
https://en.nikkoam.com/etf/1566-emerging-bond7

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

Units to be determined by the distributors starting at no less than 200*Please contact the distributor.

Subscription Price

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

Subscription
Payment

To be paid by the day indicated by the distributor.
Units of 200 or more

Redemption Units*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.

Redemption Price

The NAV obtained by deducting the trust assets reserves on the business day
after the redemption is accepted.

Redemption
Proceeds

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

Business Hours for
Subscription and
Redemption

As a rule, applications for subscription and redemption that are completed by 2
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 theDistributor.

Subscription
PeriodFrom 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 forsubscriptions will not be accepted on the days below. Please contact the
distributor for more details.
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 non-business day.)Non-acceptance Days
for Subscriptions2）When the application day for subscriptions is non-business day for the
British or New York stock exchanges or banks in London or 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.

8Even on the days Distributors are open for business, applications forredemptions will not be accepted on the days below. Please contact the
distributor for more details.
1）When the application day for redemptions is for a period of five businessdays, beginning six business days prior to the accounting date. (For a periodof six business days, beginning seven business days prior to the accounting
datewhen the accounting date falls on non-business day.)Non-acceptance Daysfor Redemptions2）When the application day for redemptions is non-business day for the
British or New York stock exchanges or banks in London or 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
Redemption

Based on the size or product qualities of the fund, restrictions may be placedon the timing 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 redemptions, or cancel applications forsubscription or requests for a redemption that have already been accepted in
the event that the Fund is 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 issuspended, settlement functions are halted, emergencies in invested
countries (such as financial crises, government default, significant policychanges or introductions 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 the Management Company
determines that there are some other unavoidable reasons.

Trust Term

Unlimited (launch date: January 30, 2012)
Early termination may be carried out in any of the following cases:
・If the Units are delisted from all the financial instruments exchanges on
which they have been listed.
・If Bloomberg Emerging Markets Local Currency Government - 10% Country
Capped Index is discontinued.

Early Termination

・If the Management Company or Trustee deem it necessary to amend thetrust deed because of a change in the calculation method of Bloomberg
Emerging Markets Local Currency Government - 10% Country Capped Index,
but such change to the trust deed is not made as it does not meet the written
resolution requirement.
Early termination is possible in any of the following events:
・Net assets of the Fund fall below JPY 300 million
・It is deemed advantageous for beneficiaries, or・Unavoidable circumstances arise.

Closing of AccountOn the 10th day of January, March, May, July, September and November inevery year.

9Distributions are paid six times in a year in accordance with the income
distribution policy.
Income Distribution

Maximum Amount ofTrust Money*As a rule, the Trustee shall transfer income to beneficiaries to the bankaccount designated in advance by the beneficiary on the day specified by theManagement Company but within 40 days from the end of each calculation
period. When a beneficiary has signed a separate agreement with his or her
broker in connection with the treatment of income distribution, payment will bemade pursuant to the provisions of such agreement.
Equivalent to 5 trillion yen
Notifications are posted on the Management Company website.

Public Notification

URL: www.nikkoam.com/

Investment Reports

As defined in the Act on Investment Trust and Investment Corporations,investment reports are not prepared and published.

*In the event that the notification cannot be posted due to unavoidable
circumstances, this will be published in The Nikkei.

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.
Tax Treatment

・ The 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
Subscriptio *Please contact your Distributor for further information.
n Fee*Subscription Fee is compensation for explanation and information providing about theFund or investment environment, and is also including expense of clerical processing of
the subscription.
Redemption Fee

Independently set by Distributors*Please contact your Distributor for further information.
*Exchange Fee is compensation for clerical processing of the exchange.

Amount to
be Retained An amount calculated by multiplying NAV at the time of a redemption by 0.3% (perin Trust
unit)
AssetsCosts paid indirectly by the customer for the trust assets (paid from the fund)
TER(TotalExpenseRatio)

0.5826% (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 0.385% (0.35% excluding taxes) per annum of the daily total NAVof the Fund.
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 the investment management expense is 0.35%, 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 Fund

Total

Management
Company:

Trustee

0.35％

0.31％

0.04％

Management
Company
Trustee

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

11

TargetInvestment
Trust
Securities
Actual Cost

Expenses

Other
Expensesand Fees(Expenses
forpreparationofprospectus
and other
expenses)

Annual rate of approx. 0.11%(0.1% excluding tax) of the total net assets

Approx. 0.495%(0.45% excluding tax) per annum of net assets※Subject to change based on changes in the constituent issues orweighting of the target investment trust securities.
Not more than 0.1% per annum of the daily total NAV of the FundThe following expenses are paid out of the trust assets at the times
specified by the Management Company: 1. Expenses for the preparationand distribution of prospectuses; 2. Cost for accounting and its incidental
operations; 3. Cost for preparation of financial summary statement(including the cost to outsource the work involved in 1. - 3.); 4. Auditing
fee; 5. Expenses for listing the Fund; and 6. Royalties for Bloomberg
Emerging Markets Local Currency Government - 10% Country Capped
Index, etc.
* Auditing fee is an expense paid to audit firm for auditing of the
Fund.

Brokerage commissions on securities in the portfolio, expenses for custodyof assets in foreign countries, interest on borrowings, interest on advances,lending fee (in case security lending is conducted, the amount obtained by
Brokerage multiplying a lending fee on securities lent by a figure not exceeding 0.55
commissions (0.5 excluding taxes) (0.5 excluding taxes as of the date of the filing of theand other securities registration statement)), and other fees are paid out of the trust
fees
assets each time they are incurred.
* The figures for items such as the rate and maximum amount cannot beprovided in advance as they fluctuate in line with investment performanceand other factors.

The total amount of expenses of the Fund 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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