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Nikko AM Hong Kong Exchange Traded Funds Summary

Financial Year Ended June 30, 2023

1. Performance Overview

• Nikko AM Global Internet ETF
  • Objective: Tracks global internet technology index investing.
  • Performance: 2023: -17.85%; 2022: -45.23%; 1Y: 17.85% (annualized).
• NikkoAM Metaverse Theme Active ETF
  • Objective: Achieves long-term growth in companies supporting or involved in the Metaverse.
  • Performance: 2023: 12.07%; 2022: -36.95%; 1Y: 12.07% (annualized).

2. Key Highlights

• Assets under Management:
  • Global Internet ETF: $11.5M (2022: $14.9M).
  • Metaverse ETF: $17.7M (2022: $15.3M).
• Major Holdings: Focus on US internet companies (e.g., Alphabet, Meta, Amazon) and China-based firms.
• Risk Factors: High volatility due to market risks (equity, currency, credit), liquidity, and concentrations in tech and emerging markets.

3. Manager and Trustee

• Manager: Nikko Asset Management Hong Kong Limited.
• Trustee: BNP Paribas acting through Hong Kong Branch (effective Oct 2022).

4. Financial Ratios

• Operating Expenses: Below 1% annualized rate for both funds.
• Auditors: PricewaterhouseCoopers (clean audit opinion).

5. Investment Restrictions

• No use of derivatives (unless for hedging).
• Primary exposure to technology and internet sectors.
• Maximum 85% in emerging markets (Metaverse ETF).

6. Additional Notes

• Performance lags reported NAV due to bid-ask spread adjustments.
• General investment risk disclaimer; past performance not indicative of future results.

End of Summary.