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The contents of this material are regarded as the Advertisement defined by the Financial Instruments and Exchange Law. Therefore, please be advised to confirm the following particulars:

RCM Japan Co., Ltd. is registered as the Financial Instruments Dealer which engages in the investment advisory, agency of investment advisory and discretionary investment management businesses.

Registered Number: The Director of Kanto Local Finance Bureau (Financial Instruments Dealer), No. 424.

Association in which a member: Japan Securities Investment Advisers Association (Membership No. 011-01236)

1. Concerning the commissions, fees and other charges for Investment Advisory Agreements and Discretionary Investment Management Agreements

1.1 Concerning the annual fees under Investment Advisory Agreements and Discretionary Investment Management Agreements

(1) Investment Advisory Agreements

The annual fee for services under an Investment Advisory Agreement is ultimately determined on the basis of individual consultation with the customer. However, the annual fee for advice on Japanese stocks is 30% (31.5% including tax) of the discretionary investment management fee or 0.3% (0.315 % including tax) of the balance of contractual assets in principle. The fee is rounded down to the nearest multiple of ¥1,000.

(2) Discretionary Investment Management Agreements

The annual fee for services under a Discretionary Investment Management Agreement is ultimately determined on the basis of individual consultation with the customer. In this case, the maximum billing rate is 1%. Moreover, the billing rates for main products depend, as a rule, on the type of securities under management and the balance of contractual assets, as follows:

The fee is rounded down to the nearest multiple of ¥1,000.

1.2 Concerning expenses that accompany the execution etc. of investments based on a Discretionary Investment Management Agreement

In addition to the Discretionary Investment Management Agreement fee, commissions on transactions of securities etc., expenses incurred on assets under management which are held in deposit offshore, and other expenses incurred for executing investments and maintaining a portfolio under a Discretionary Investment Management Agreement are borne by the customer. However, these are borne through the institution (trust bank, etc.) with which the customer has a contract for depositing the assets and are not to be paid to RCM Japan Co., Ltd. As they vary depending on contractual asset amounts, deposit periods and management conditions, it is not possible to disclose the total amount of these fees and other charges.

2. Concerning risks

The types of assets under an Investment Advisory Agreement or a Discretionary Investment Management Agreement are determined on the basis of consultation with the customer. However, the financial products and derivative transactions etc. are affected by fluctuations in a variety of indicators etc. Accordingly, when a customer's assets are subject to an Investment Advisory Agreement or a Discretionary Investment Management Agreement, there is a risk of the principal being impaired.

2.1 Interest rate fluctuation risk

With respect to bonds, commercial paper and other portfolio assets with a fixed term or with fixed interest payments during the term until redemption or fixed cash flow until redemption, rises, declines and other fluctuations in market interest rates can cause decreases, increases and other fluctuations in the appraisal value or disposal value when the amount of interest payments during the term and the redemption value of the portfolio assets are discounted to current value at the market interest rate of a given time. Accordingly, in addition to the possibility that these factors will generate a profit, there is a possibility that they will cause a loss, and as a result there is a risk of the principal being impaired.

2.2 Exchange risk

With respect to foreign stocks, foreign bonds, foreign deposits, foreign currencies and other portfolio assets which are priced or valued in a foreign currency, rises, declines and other fluctuations in the exchange rate of the currency in which the deposited portfolio assets are priced or valued relative to the currency of the fund's principal can cause increases, decreases and other fluctuations in the principal currency-denominated price or value of the portfolio assets. Accordingly, in addition to the possibility that these factors will generate a profit, there is a possibility that they will cause a loss, and as a result there is a risk of the principal being impaired.

2.3 Price fluctuation risk

With respect to stocks, bonds, derivative transactions and other portfolio assets which are traded in financial product exchange markets or over-the-counter markets or which have a market characteristic, rises, declines and other fluctuations in financial product market prices and other markets' transaction prices and transaction conditions can cause increases, declines and other fluctuations in the appraisal value and disposal value of portfolio assets. Accordingly, in addition to the possibility that these factors will generate a profit, there is a possibility that they will cause a loss, and as a result there is a risk of the principal being impaired.

2.4 Issuer's credit risk

With respect to stocks, bonds, commercial paper and other portfolio assets for which the issuer's financial position or ability to pay dividends, interest and redemptions is an important source of value, improvement, deterioration and other fluctuations (including default) in the issuer's business standing such as financial position, in the issuer's ability to pay dividends, interest and redemptions, and in market participants' or rating institutions' evaluation of these can cause increases, decreases and other fluctuations (including the possibility of a complete loss) in the appraisal value or disposal value of portfolio assets. Accordingly, in addition to the possibility that these factors will generate a profit, there is a possibility that they will cause a loss, and as a result there is a risk of the principal being impaired.

2.5 Counterparty's credit risk

With respect to stocks, bonds, commercial paper, other portfolio assets for which the contractual time of acquisition or disposal differs from the time at which the contract stipulates the cash or actuals are to be delivered, and derivative transactions and other portfolio assets which stipulate at the time of the transaction the details or the conditions for determining the details of the delivery of cash or actuals in the future, improvement, deterioration and other fluctuations in the business standing such as the financial position of the counterparty to the contract or the counterparty which is to deliver the cash or actuals, or in the reliability of the delivery being executed can cause increases, decreases and other fluctuations in the appraisal value and disposal value of portfolio assets and, furthermore, default on the part of the delivering counterparty can result in the dissolution of the contract and the necessity of a new contract based on prices and transaction conditions at that time. Accordingly, in addition to the possibility that these factors will generate a profit, there is a possibility that they will cause a loss, and as a result there is a risk of the principal being impaired.

2.6 Liquidity risk

With respect to stocks, bonds, derivative transactions and other portfolio assets which are traded in financial product exchange markets or over-the-counter markets or which have a market characteristic, the liquidity of assets and the sum of supply and demand in the financial product market and other markets can change due to the impact of shrinkage of market scale resulting from sudden and massive trading or the external environment, and when this occurs it may not be possible to acquire or dispose of them at the price or under the terms that had been expected. Accordingly, there is a possibility that these factors will cause a loss, and as a result there is a risk of the principal being impaired.

2.7 Country risk

With respect to portfolio assets for which the sovereignty over the issuer, transaction contract and delivering counterparty, the financial product market and other trading markets, or the currency in which they are priced or valued is located in a foreign country, that country's political, economic and social conditions, improvement or deterioration in its diplomatic relations with other countries, and the introduction, strengthening and easing of currency regulation, capital regulation and market regulation can cause increases, decreases and other fluctuations (including the possibility of a complete loss) in the appraisal value or disposal value of portfolio assets. Accordingly, in addition to the possibility that these factors will generate a profit, there is a possibility that they will cause a loss, and as a result there is a risk of the principal being impaired.

2.8 Portfolio fund risk (related to assets in the fund)

With respect to portfolio funds for which dividend, redemption and residual property payments etc. are made from trust beneficiary rights etc. and its property, changes in the appraisal value or disposal value of the above assets accompanying changes in the above indicators can cause changes in the appraisal value or disposal value of the trust etc. which holds these. Accordingly, in addition to the possibility that these factors will generate a profit, there is a possibility that they will cause a loss, and as a result there is a risk of the principal being impaired.

2.9 Portfolio fund risk (related to the fund administrator)

With respect to portfolio funds for which dividend, redemption and residual property payments etc. are made from trust beneficiary rights etc. and its property, when a situation occurs in which there is a hindrance to the account manager's performance of his or her investment management, asset management, operations management and other trust etc. duties, it may not be possible for other related parties to fulfill their duties appropriately. Accordingly, there is a possibility that these factors will cause a loss, and as a result there is a risk of the principal being impaired.

2.10 Concerning derivative transactions etc.

With respect to the derivative transactions etc. for which the Company provides advice under an Investment Advisory Agreement and the derivative transactions which the Company executes under a Discretionary Investment Management Agreement, open positions are not allowed to exceed the market value of the assets under management. As they are subject to the impact of fluctuations in a variety of indicators etc., however, there is a risk of a loss occurring that will exceed the principal.

2.10.1 Market-related risks

With respect to derivative transactions in which a theoretical principal which multiplies interest rates, currency prices, financial product market prices or other indicators by the transaction amount or transaction volume becomes the object of a transaction, the transaction is processed by posting fixed rate consignment guarantee money or deposit etc. instead of delivering funds equivalent to the theoretical principal, and the transaction is settled or completed by transferring the difference which is equivalent to the increase or decrease in the theoretical principal corresponding to fluctuations in the indicators, the payment amount of the difference at the time of settlement or completion which is calculated on the basis of the size and direction of fluctuations in the indicators may exceed the amount of the guarantee money that was posted initially or as a supplement. Accordingly, in addition to the possibility that these factors will generate a profit, there is a possibility that they will cause a loss, and as a result there is a risk of the principal being impaired.

2.10.2 Credit risk

For derivative transactions in which the business or financial standing of the target company or institution or the occurrence of a default is an indicator, the transaction is processed by posting fixed rate consignment guarantee money or deposit etc. instead of delivering funds equivalent to the theoretical principal, and the payment amount is determined when the transaction is settled or completed on the basis of fluctuations in the business or financial standing of the target company or institution or whether or not there has been a default, the payment amount which is calculated when the transaction is settled or completed based on the business or financial standing or whether or not there has been a default may exceed the amount of the guarantee money that was posted initially or as a supplement. Accordingly, in addition to the possibility that these factors will generate a profit, there is a possibility that they will cause a loss, and as a result there is a risk of the principal being impaired.