This Fund Invests mainly in securities such as stocks whose prices fluctuate, so the NAV will fluctuate accordingly. Therefore, it is possible that the Net Asset value (NAV) falls below the amount of invested principal.

Primary risks associated with this Fund are as follows:

1. Price Fluctuation Risk
In general, the price of equities fluctuate, reflecting domestic and international economic and political conditions and the like. Therefore, the Fund may be subject to significant risks in case there is unexpected fluctuation in equities price or liquidity.

2. Liquidity Risk
In case the market size or trading volume is small, the Fund may be subject to unexpected loss, from being unable to sell portfolio stock at expected price.

3. Credit Risk
In general, the Fund may be subject to risk of substantial loss, in case the invested company experiences direct or indirect material crisis.

4. Risk Involved in Lending of Securities
The lending of securities contains counterparty risk (the risk of contract non-performance due to the bankruptcy of the transaction counterparty). In the event that liquidation procedures using collateral funds are carried out pursuant to the lending agreement as a result of the impact of counterparty risk, there is a chance that losses to the fund will be generated if the procurement cost of buying back the securities exceeds the collateral funds due to market price fluctuations or other factors.

Other Items to Consider

• These materials are solicitation materials prepared by Nikko Asset Management in order to enhance investors' understanding of "Listed Index Fund TOPIX100 Japan Large Cap Equity".
• Unlike bank deposits or insurance policies, this Fund is not protected by the Deposit Insurance Corporation or the insurance policyholders protection corporations. Nor are investment trusts protected by investor protection Funds when purchased at banks or other registered financial institutions.
• Any and all profits and losses arising from the trust assets belong to the beneficiaries. Applicants for subscription of this Fund are advised to fully acknowledge the investment objective of the Fund and associated risk factors.
• When applying to invest in the Fund, please make the decision to invest carefully after taking the time to read the delivered pre-agreement document and other relevant materials in detail.
• Although the investment objective of this Fund is to achieve a general correspondence between the rate of change in the NAV of the Fund and the rate of change in the TOPIX 100 Index Value, it cannot be guaranteed that the NAV moves perfectly in tandem with the target index.