What do the collective investment rules (trust agreement) contain?

The trust agreement, which serves as the collective investment rules of an investment trust, covers matters such as the asset manager and trust company, the trust principal and total number of units of beneficiary certificates, the management and administration of assets, profit distribution and redemption, fees and charges, beneficiaries' meetings, and disclosures and reports.

Changing matters that are important to investors, such as raising fees, replacing the trust company or changing the trust agreement period, requires a prior resolution of a beneficiaries' meeting. Changes are disclosed publicly, and changes made through a meeting are notified to the beneficiaries.