INVESTMENT MEMORANDA PROFESSIONAL

(6) Subscription for beneficial certificates: This shall include at least the subscription procedure and deadline, the calculation of the subscription price and the method of payment, the method of delivery of the beneficial certificates and the timing of delivery, conditions for the successful or unsuccessful establishment of the fund, and the method of resolution in the event of unsuccessful establishment. (5) Items, timing, and methods of payment for distribution of investment gains. (4) Principles and methods for handling the exercise of voting rights when the fund participates in a shareholders meeting of a share-issuing company. Where the fund manager concurrently manages another fund or other funds, the name(s) of the other fund(s) and measures adopted to prevent any conflict of interest shall be disclosed.

INVESTMENT MEMORANDA PROFESSIONAL

(3) Fund investment: This shall include at least the basic policy, the scope, and the decision-making process of fund investments also, the name of the fund manager, his or her professional (and/or academic) credentials, and his or her powers and limitations on use of the fund. (2) The professional duties of the securities investment trust enterprise and the fund custodian institution. (1) A brief introduction to the fund: This shall include at least the name of the fund, the type of fund, the total amount being privately offered, the total number of beneficial units, and the face value and duration of each beneficial unit for a foreign denominated fund, the currency in which the fund is denominated shall be clearly denoted, and all payments for subscriptions or redemptions shall be made in that currency. The general description of the fund shall include the following information: The securities investment trust enterprise and the chairman of its board of directors shall sign or seal the back cover of a private placement memorandum. Where a trust enterprise is concurrently engaged in the securities investment trust business, and itself is the custodian of the assets of the securities investment trust, the memorandum shall also display a statement denoting that said enterprise is itself the custodian institution. Where a fund is denominated in foreign currency, the type of currency in which the fund is denominated shall be noted. The cover of a private placement memorandum must, in a conspicuous manner, have printed on it an investment risk warning. In cases of misrepresentation or nondisclosure in the contents of a private placement memorandum, the securities investment trust enterprise, its responsible person(s), and any other persons who have attached their signature/seal to the private placement memorandum, shall be legally responsible. There must not be any misrepresentation, nondisclosure, omission, or any other circumstances sufficient to mislead another party.

The contents of a private placement memorandum must be detailed, accurate and precise.

Investment memoranda