Notice regarding termination of trust and amendments to basic terms and conditions of "NEXT FUNDS Russell/Nomura Fundamental Index Exchange Traded Fund (1598)" due to reduction in number of outstanding units of beneficial interest
As described in the "Notice regarding possible termination of trust and amendments in basic terms and conditions due to reduction in number of units of beneficial interest in "NEXT FUNDS Russell/Nomura Fundamental Index Exchange Traded Fund (1598)" released on July 15, 2021, the number of units of beneficial interest has fallen below 100,000 units for 20 consecutive business days from July 15, 2021 to today. This therefore constitutes grounds for the cancellation of the trust agreement as set forth in the basic terms and conditions of the trust agreement. Effective as of September 17, 2021, Nomura Asset Management will change the basic terms and conditions to set September 21, 2021 as the trust expiry date, change the basic terms and conditions governing the payment of redemption money upon early redemption, and terminate the trust (hereinafter referred to as this ETF).
This ETF is expected to be designated as a security to be delisted from the Tokyo Stock Exchange (TSE). It is scheduled to be delisted on September 17, 2021 with the final trading day being September 16, 2021.
In preparation for the early redemption, we plan to conduct full sale of all the securities held on or after September 14, 2021, in which case the NAV of the ETF will no longer track the movement of the benchmark index.
August 16, 2021: Designated as security to be delisted from TSE
September 16, 2021: Final date of trading on TSE
September 17, 2021: Effective date of amendments to basic terms and conditions
September 17, 2021: Date of delisting from TSE
October 29, 2021: (Planned) payment of redemption proceeds will begin
Redemption proceeds are scheduled to be paid to beneficiaries listed on the beneficiary registry as of September 21, 2021, the trust termination date, from October 29, 2021, in accordance with the provisions of the investment trust deed.
The redemption amount is based on the redemption price per unit calculated on the trust termination date. The redemption price per unit will be the amount obtained by dividing the total net assets of the ETF at the time of termination of the trust by the total number of units of beneficial interests, and will be announced on the NEXT FUNDS website when it is determined.
■Suspension of applications for creation and redemption
Due to the implementation of early redemption and the accompanying amendments in terms and conditions of the trust deed, applications for creation of this ETF will not be accepted after September 13, 2021, and requests for redemption will not be accepted after September 14, 2021. In addition, if it is deemed that there is an unavoidable circumstance that may hinder investment in accordance with the basic investment policy, redemption requests may not be accepted even before September 13, 2021.