Creation / Redemption flow for Cash Creation/Redemption Type ETF 14:00
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 | 1547 | Listed Index Fund US Equity (S&P500) | 14am | 14：10am |
| 2 | 1548 | Listed Index Fund China H-share (Hang Seng China Enterprises) | 14am | 14：10am |
| 3 | 1549 | Listed Index Fund S&P CNX Nifty Futures (India Equity) | 14am | 14：10am |
| 4 | 1566 | Listed Index Fund Emerging Bond (Barclays Local EM) | 14am | 14：10am |
| 5 | 1677 | Listed Index Fund International Bond (Citigroup WGBI) Monthly Dividend Payment Type | 14am | 14：10am |
| 6 | 1680 | Listed Index Fund International Developed Countries Equity (MSCI-KOKUSAI) | 14am | 14：10am |