Securities Report (Domestic Investment Trust Beneficiary Certificates) - 11th Period (2025/10/11 - 2026/04/10)

Daiwa Asset Management Co., Ltd. Securities Report (Domestic Investment Trust Beneficiary Certificates) - 11th Period (2025/10/11 - 2026/04/10)

This report has been prepared in accordance with Article 24 of the Financial Instruments and Exchange Act to disclose material information regarding domestic investment trust beneficiary certificates to investors. The subject investment trusts are managed by Daiwa Asset Management Co., Ltd., and the reporting period covers six months from October 11, 2025, to April 10, 2026.

The report provides detailed information on each investment trust’s investment policy, performance, asset allocation, income status, fee structure, risk factors, and the asset manager’s business operations. Financial statements, including net asset value, income statements, and cash flow statements, are also attached to support investors’ informed decision-making.

These investment trusts aim for long-term capital growth and stable returns through diversified investments in equities, bonds, REITs, and other securities. Investment management is conducted with rigorous risk controls, taking into account macroeconomic trends, monetary policies, and market volatility. Particular attention is paid to global economic developments, interest rate fluctuations, and foreign exchange risks.

The total net asset value of the investment trusts reached XX billion yen at the end of the reporting period, representing a X.X% increase compared to the previous half-year. The primary asset allocation consists of XX% domestic equities, XX% foreign equities, XX% domestic bonds, XX% foreign bonds, and XX% in other assets. In terms of returns, the net asset value per unit increased by X.X% during the period, with distributions paid at an annualized rate of X.X%.

Fees include a trust fee of X.XX% per annum (including tax), along with sales charges and trust property retention fees. This fee structure adheres to industry standards, emphasizing investor convenience and transparency.

Disclosed risk factors include changes in domestic and international economic conditions, shifts in monetary policy, geopolitical risks, natural disasters, currency fluctuations, and liquidity risks. Particular caution is highlighted regarding the potential impact of U.S. interest rate hikes and China’s economic slowdown on future market performance.

Daiwa Asset Management Co., Ltd., established in 19XX, is a comprehensive asset management firm offering a wide range of investment trusts, private funds, and asset management services to institutional and individual investors in Japan and abroad. With a capital of XX billion yen and XXX employees, the company is headquartered in Chiyoda-ku, Tokyo. It follows an investment philosophy centered on long-term wealth accumulation and risk control, and actively promotes ESG and sustainable finance initiatives.

This securities report is a crucial document for investor protection and market transparency. Investors and stakeholders are encouraged to review its contents. Detailed information is available on the company’s official website and the Financial Services Agency’s EDINET system.