exchange Earnings from operation before change in operating assets and liabilities Operating assets (increase) decrease Long-term deposits at financial institutions Securities purchased under reverse
. The analysis should enable the determination of the level of risk of the instrument, expected return, portfolio construction, and the safety level of investment. Investment management shall also be
of the return distribution or the reimbursement of capital to the unitholders; (b) fees or expenses collected from the unitholders; (c) any other cases approved by the SEC Office, provided that, in
return, except for estimated return specified in Clause 9; (3) information that urges investors to purchase investment units within a certain timeframe or by a certain time, except for the advertisement of
Office prior to distribution: (1) advertisement related to estimated return; (2) advertisement related to auto-redemption rate; (3) advertisement for which the Office directs the securities company to
accruing from the assets under (a) to (c), for example, right to dividend or interest, right to purchase capital increase shares and right to attend and vote at a meeting of securities holders, etc. (2
pledge asset as collateral to the lender in order to guarantee the borrower’s performance of obligation. Additionally, the lender has to return the collateral to the borrower when the borrower returns the
nature of investors does not correspond to the scheme as approved by the Office. Once the approval has ceased, the management company shall fairly return payments for subscription for investment units to
securities underwriter after an offer for sale of the underwritten securities so that the underwriter shall be able to allocate shares in excess of the underwriting amount. Such proceeding will increase the
encumbrance of others to the borrower, and the borrower has to pledge asset as collateral to the lender in order to guarantee the borrower’s performance of obligation. Additionally, the lender has to return the