Creation / Redemption flow for Cash Creation/Redemption Type ETF 10:00
Daily Creation and Redemption are based on ETF’s NAV of one business after application (T+1) calculated in early evening. After subscription is received, ETF’s asset manager begins to take position. Basically sell/buy at last price of T day’s market while FX rate is TTM of one business day after the application (10am on T+1)
The flow chart below is showing the creation/redemption process for Nikko AM ETFs. Please note that transactions cannot be processed for days on which applications are not accepted.
Cash Creation/Redemption Type ETF
Redemption flow for cash Creation/Redemption Type ETF
| No | Code | Fund Name | cut-off time for investors‘ application to Aps | cut-off time for Aps' application to Nikko AM |
|---|---|---|---|---|
| 1 | 1554 | Listed Index Fund World Equity (MSCI ACWI) ex Japan | 10am | 10：10am |
| 2 | 1555 | Listed Index Fund Australian REIT (S&P/ASX200 A-REIT) | 10am | 10：10am |
| 3 | 1681 | Listed Index Fund International Emerging Countries Equity (MSCI EMERGING) | 10am | 10：10am |