Trust Company

Primary role of trust company (asset custodian company) is to store and manage investment trust asset, such as stock or cash. Trust company is generally commercial bank. If APs hand over a basket of stocks received from investors to trust company, it will take custody of those stocks until ETF is cancelled. Reversely, when cancellation of ETF is requested, stored stocks will be returned to AP. In addition, trust company takes a role of acquiring or disposing asset and paying redemption money or profits from certificate of beneficiary according to the directions of the collective investment company. In addition, it monitors the management instructions on investment trust asset of collective investment company, and evaluates whether investment trust asset is fairly evaluated or reference price is properly calculated.