fund after the initial investment, should the total value of all transactions made between the property fund and related persons in the same group within any six-month period exceed a hundred million

directly or indirectly, more than thirty percent of the outstanding shares or the total partnership of such private operator; 2. a juristic person having the person under 1 in the common person group ; 3

Securities and Exchange Commission hereby issues the following regulations: Clause 1 The management of funds of juristic entities under the same business group shall not be regarded as the undertaking of

management of the private fund, using knowledge and competence as a professional. The securities company shall enter into a written agreement with a person or a group of persons who has authorized the

: (1) a person who has a relationship or association with a mutual fund management company or property fund management company according to the appendix attached hereto; (2) persons in the same group as

the registration certificate of juristic person / documents related to establishment of a group of persons; (7) Copy of the financial statements for the three most recent financial years or a copy of

the total outstanding investment units; (4) a mutual fund of which the person under (1) or (2) holds investment units in an amount not exceeding fifty percent of the total outstanding investment units

investment units in the amount of fifty percent or more of the total outstanding investment units; (4) a mutual fund of which the person under (1) or (2) holds investment units in the amount of not exceeding

for selecting an analysis/a research to support an investment decision. (4) Prescription of criteria in selecting each asset/group of asset to be actively or passively* invested in order to reduce risk

Operating Results 1. Organizational structure and operation of the group of companies 3 2. Risk management 12 3. Business sustainability development 13 4. Management discussion and analysis (MD&A) 17 5