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Policy on Product Governance
1. Policy Objective
The Company, guided by the fundamental principle of placing client interests first and fulfilling its role as a Japan-style Fund Management Company, has established this Policy on Product Governance. The purpose is to uphold fiduciary duties throughout the entire product lifecycle—from structuring to redemption—so as to provide clients with a broader range of high-quality investment products and services.
2. Governance Framework
To ensure the effectiveness of product governance, the Company has established a Product Governance Committee, in which the President and CEO participates. The committee is, in principle, convened on a monthly basis. At these meetings, matters related to maintaining and improving product quality—such as investment performance and product features—are reviewed based on monitoring updates and verification results.
Where resolutions or reports to the Board of Directors are deemed necessary, relevant proposals are submitted accordingly. In addition, to incorporate an external perspective, outside experts are invited to participate in the committee.
3. Product Structuring
When structuring products, the Company considers the anticipated client profile and reviews the appropriateness of product features, fee structures, and other conditions at the Product Governance Committee. Furthermore, to ensure products are offered to suitable clients, the Company works in collaboration with distributors during the product design stage.
4. Product Oversight
For products already launched, the Company conducts periodic quality assessments. The Investment Policy Committee, in which the President and CEO participates, conducts monthly investment reviews.
In addition, the Product Governance Committee continuously monitors whether products maintain the features originally envisioned at the time of structuring. This monitoring is based on:
- daily investment risk monitoring conducted by the Investment Department (compliance with fund trust deeds, investment guidelines, and discretionary investment contracts), and
- compliance checks by the Compliance Department on incidents of misconduct or rule violations.
The Company also works with distributors to review client attributes to ensure that products are being provided appropriately to clients.
5. Clear Information Disclosure
The Company endeavors to explain product management frameworks clearly and in detail. We also strive to provide information on product features in an accessible and understandable manner, tailored to the characteristics of each product.