Mitsubishi UFJ Kokusai Asset Management

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1 Mitsubishi UFJ Kokusai Asset Management 1.Ensure customer-oriented approach Based on the notion that consistently taking initiatives to delve into fiduciary duties (FD) that Mitsubishi UFJ Kokusai Asset Management (MUKAM) must fulfill allows it to always respect the trust our clients have placed in us and act on their behalf, MUKAM positions FD as principles guiding its corporate directors and employees mindset and behaviors that all its directors and employees are addressing. MUKAM has formulated and announced its Brand Statement that serves as a philosophical guideline to practice corporate visions. MUKAM reflects customer perspectives and feedback to the operation and improvement of its services with a system in place to incorporate Advisory Committee s advice and other external opinions. 2.Developing and providing products that match customers needs MUKAM develops and provides products based on market trends and its customers investment needs. MUKAM strives to develop and provide products that adequately match its customers investment objectives and risk tolerance. 3.Implementing customer-oriented consultation and provision of information MUKAM describes in prospectuses services that it provides for management fees that it receives. MUKAM provides information including on investment fund performances and investment environment in times of market volatility. MUKAM provides tools for assessing risk tolerance to assist its customers in selecting investment funds. 4.Provision of line of products to meet diverse needs MUKAM strives to develop products for enhanced product lineup by both leveraging its own investment know-how and utilizing its extensive network with domestic and overseas investment management firms. 5.Sophistication of investment for the improvement of customers investment results MUKAM, as a professional investment manager, seeks to provide its customers with best possible investment results by creating added-values based on thorough researches and analyses and appropriate investment judgement as well as by leveraging MUFG s network. MUKAM strives to increase its shareholders benefits and sustainable corporate value and to maximize customer interest while fulfilling its stewardship responsibilities through stewardship activities, such as purposeful dialogues with its portfolio companies and exercise of its voting rights, based on MUKAM Principles on Corporate Governance Sought from Invested Companies. MUKAM strives to strengthen its investment capability by developing a solid investment 1

2 structure through fostering and enhancing human resources for investment and by accumulating investment know-how utilizing not only in-house resources but also our overseas offices resources and external overseas investment management firms. MUKAM strives to perform the best executions with respect to assets entrusted for investment based on its fiduciary responsibilities. MUKAM has a structure in place that contributes to securing independence as an investment management firm. 9.Exertion of professionalism Each and every employee of MUKAM seeks, as a professional, to enhance his/her knowledge and skills through training etc. so as to earn further trust from customers. 2

3 [Implementation status] MUKAM will regularly disclose the degree of adoption of customer-oriented undertakings including its initiatives for further improvement of products and services while reviewing its initiatives as needed. Provision of products and investment services that contribute to customers asset building: MUKAM strives to develop and provide products that match its customers diverse needs and contribute to their asset building, seeking to deliver the best possible investment results to its customers from managing their assets that the firm is entrusted with. Fig.1 Assets under management(jpy, mil.) 15, 12, 9, 6, 3, 26/9 27/3 27/9 28/3 28/9 29/3 29/9 Developing and providing products that contribute to long-term, periodic and diversified investments: emaxis Series have been developed and offered as a series of index funds characterized with diverse product lineup and low management fees, to online investors, providing one-stop access not only to domestic but overseas assets and enabling investors to select products that match their investment styles, such as long-term, internationally-diversified investment. With the above-said Series offering 38 funds as of the end of March 217, MUKAM continues to strive to enhance its product lineup in response to customer needs and investment environment. Fig.2 Number of funds under emaxis Series Sept. 214 Mar. 215 Sept. 215 Mar. 216 Sept. 216 Mar. 217 Sept. 217 Evaluation by customers: In product development and investment, information provision and other areas, MUKAM confirms the degree of adoption of activities contributing to improved evaluation by its customers or investors, based on results of evaluation by distribution companies and external rating agencies. MUKAM continues to seek to further enhance its products and services and thereby to meet customer expectation. 3

4 Fig.3 Results of Satisfaction Survey on Investment Trust Fund Management Companies by R&I (Comprehensive satisfaction) 3.8 Kokusai Asset Management 3.69 (7th Position) MUFJ Asset Management 3.55 (13th Position) MUFJ Kokusai Asset Management (after merger) 3.7 (3rd Position) 3.71 (5th Position) Fig.4 Number of funds that received fund awards (cumulative) FY215 FY216 FY217 FY214 FY215 FY216 Enhancement of stewardship activities: As part of its stewardship activities, MUKAM strives to continue dialogues (engagements) with its portfolio companies. Furthermore, MUKAM set up a Stewardship Advisory Council on April 1, 217 with external, third-party figures comprising a majority of its membership, thereby establishing a framework to check the adequacy and legitimacy of its stewardship activities in terms of securing and maximizing investors interest. MUKAM continues to seek to enhance its stewardship activities for maximizing investors interest based on the Stewardship Advisory Council s verification from external, third-party perspectives. Fig.5 The number of dialogues (engagements) with companies 3, 2, 1, Jul. 214~Jun. 215 Jul. 215~Jun /7~29/6 Enhancing expertise: MUKAM strives to maintain and enhance expertise among its staff by having them obtain securities analyst and other professional qualifications relevant to asset management business and continues to further improve its skills as an investment manager. Fig.6 The number of securities analyst qualification holders and securities analyst qualification acquisition rates among investment personnel 3 1% Mar. 215 Mar. 216 Mar. 217 Sept. 217 No. of Securities Analyst Qualification Holders Ratio of qualification acquisition among staff in charge of investment management 4 75% 5% 25% %

5 Disclaimer [Fig. 1] Assets under management The assets under management are the sum of the balance of investment trust funds and assets under management based on investment advisory contracts. The numbers in and before the term ended Mar. 215 are the sum of assets under management by former Mitsubishi UFJ Asset Management and former Kokusai Asset Management. [Fig. 2] Number of funds under emaxis Series Index fund is a type of investment trust with a portfolio constructed to match or track the components of a market index, such as Nikkei Stock Average (Nikkei 225). [Fig. 3] Results of Satisfaction Survey on Investment Trust Fund Management Companies by R&I Satisfaction Survey on Investment Trust Fund Management Companies" is the answer to questionnaire result that "Newsletter on Funds & Money" of Rating and Investment Information, Inc. (R&I) publication carried out among a financial institution selling an investment trust. The number of investment trust fund management companies with 2 or more responses including responses from 2 or more of the following sectors: banks, securities firms or credit unions (excluding online-only businesses). Results of responses to Satisfaction Survey on Investment Trust Fund Management Companies conducted by Newsletter on Funds & Money issued by Rating and Investment Information, Inc. (R&I) among financial institutions distributing investment trust funds [Fig. 4] Number of funds that received fund awards (cumulative) Number of awards received in the following awards: R&I Fund Awards, Rating and Investment Information (R&I); Thomson Reuters Lipper Fund Awards, Thomson Reuters Markets; and Fund of the Year, Morningstar (Cumulative since 215) The R&I Fund Award is presented to provide reference information based on the past data R&I or QUICK Corp. (QUICK) believes to be reliable (however, its accuracy and completeness are not guaranteed by R&I or QUICK) and is not intended to recommend the purchase, sale or holding of particular products or guarantee their future performance. The Award is not the Credit Rating Business, but one of the Other Lines of Business (businesses excluding Credit Rating Business and also excluding the Ancillary Businesses) as set forth in Article 299, paragraph (1), item (xxviii) of the Cabinet Office Ordinance on Financial Instruments Business, etc. With respect to such business, relevant laws and regulations require measures to be implemented so that activities pertaining to such business would not unreasonably affect the Credit Rating Activities. Intellectual property rights including copyright and all other rights in this Award are the sole property of R&I or QUICK, and any unauthorized copying, reproduction and so forth are prohibited. The Award for the "Investment Trusts/Aggregate" category is based on the average performance of the relevant funds of a fund manager, and does not indicate the excellent performance of all individual funds of the manager. References to any specific securities do not constitute an offer to buy or sell securities. Those awarded funds based upon the past performance cannot guarantee their future performance. Data or statements are obtained from sources Morningstar Japan K.K believed to be reliable but are not guaranteed as to accuracy or completeness. All information is the property of Morningstar Japan K.K. or Morningstar, Inc. and protected by copyright and intellectual property laws. All rights reserved. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper. Users acknowledge that they have not relied upon any warranty, condition, guarantee, or representation made by Lipper. Any use of the data for analyzing, managing, or trading financial instruments is at the user s own risk. This is not an offer to buy or sell securities. [Fig. 5] The number of dialogues (engagements) with companies Stewardship activities are proxy voting, purposeful dialogue with investees and other research activities of trustee, with the view to enhance corporate values and encourage sustainable growth for securing and maximizing investors interest. The number of individual meetings and other direct dialogues with companies The numbers in and before June 215 are adjusted for former companies based on the criteria for the new company (merged in July 215) 5

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