JPY Intraday Comment

研报英文原文证据摘录

JPY Intraday Comment

hall be paid, with no sales commission charged. Inflation-indexed JGBs carry the risk of losses, as

prices fluctuate in line with changes in market interest rates and fluctuations in the nationwide consumer price index. The notional principal of

inflation-indexed JGBs changes in line with the rate of change in nationwide CPI inflation from the time of its issuance. The amount of the

coupon payment is calculated by multiplying the coupon rate by the notional principal at the time of payment. The maturity value is the amount

of the notional principal when the issue becomes due. For JI17 and subsequent issues, the maturity value shall not undercut the face amount.

Purchases of investment trusts (and sales of some investment trusts) are subject to a purchase or sales fee of up to 5.5% (tax included) of the

transaction amount. Also, a direct cost that may be incurred when selling investment trusts is a fee of up to 2.0% of the unit price at the time of

redemption. Indirect costs that may be incurred during the course of holding investment trusts include, for domestic investment trusts, an asset

management fee (trust fee) of up to 5.5% (tax included/annualized basis) of the net assets in trust, as well as fees based on investment

performance. Other indirect costs may also be incurred. For foreign investment trusts, indirect fees may be incurred during the course of holding

such as investment company compensation.

Investment trusts invest mainly in securities such as Japanese and foreign equities and bonds, whose prices fluctuate. Investment trust unit

prices fluctuate owing to price fluctuations in the underlying assets and to foreign exchange rate fluctuations. As such, investment trusts carry

the risk of losses. Fees and risks vary by investment trust.