Securities Report (Domestic Investment Trust Beneficiary Certificates) - 20th Period (2025/09/25 - 2026/03/23)

Nomura Asset Management Co., Ltd. Securities Report (Domestic Investment Trust Beneficiary Certificates) - 20th Period (2025/09/25 - 2026/03/23)

This report is a securities report submitted by Nomura Asset Management Co., Ltd. under the Financial Instruments and Exchange Act, aimed at disclosing information regarding domestic investment trust beneficiary securities. The reporting period covers the 20th period (from September 25, 2025, to March 23, 2026).

The investment trust follows an investment policy of pursuing long-term capital growth through diversified investments across various asset classes, including equities, bonds, and real estate. This report details the investment performance for the period, portfolio composition, risk factors, distribution status, and future outlook.

Regarding investment performance, taking into account changing domestic and international market conditions and reflecting rebalancing strategies and risk management efforts, the fund achieved an annualized return of 2.8%. This represents an outperformance of +0.4 percentage points against the benchmark index.

Portfolio composition is as follows: domestic equities 32%, foreign equities 28%, domestic bonds 20%, foreign bonds 12%, real estate-related securities 5%, and other alternative investments 3%. ESG investment considerations continue, with 78% of the portfolio holdings meeting ESG criteria.

Key risk factors include ongoing uncertainties surrounding U.S. monetary policy, heightened geopolitical risks, and increased foreign exchange volatility. In response, the company has strengthened hedging strategies and ensured liquidity.

With regard to distributions, the fund maintains its biannual scheduled payouts, with a distribution yield of 1.9% for the period. Efforts are underway to improve the accuracy of cash flow forecasting to ensure stable distribution sources.

Looking ahead, the company will continue its core strategy of global diversified investment while strengthening targeted investments in AI-related sectors and renewable energy. Additionally, initiatives are being advanced to enhance two-way communication with investors through digital platforms.

This report has been submitted to the Financial Services Agency and the Tokyo Stock Exchange. Investors can access and download it via the company's official website. It reaffirms the company's commitment to transparency in disclosure and investor protection.