# How It Works

Investors → Managed Pool → Tokenized Assets → Accumulating NAV

## Participation and eligibility

Eligible investors would complete applicable verification and review the pool’s mandate, investment risks and final terms before participating. Subscription assets, minimums, dealing windows and share rights remain pending disclosure. No capital can be transferred through the current preview.

## Allocation and asset management

The pool or appropriate vehicle would allocate capital into selected existing tokenized fixed-income instruments within its mandate. Portfolio management is intended to assess asset suitability, issuer and counterparty exposure, concentration, duration and liquidity.

## Accumulating NAV and valuation

The intended model reflects net investment income, fees, expenses and changes in underlying asset values in NAV rather than distributing a promised yield. NAV per share would be calculated as net pool assets divided by outstanding shares, subject to the finalized share structure and valuation policy.

Valuation sources, frequency, cut-off times, handling of stale prices and independent review arrangements are pending disclosure. NAV may fall as well as rise. Returns are not guaranteed.

## Redemption lifecycle

A redemption would begin with an eligible investor request under the pool’s disclosed terms. Requests may be subject to dealing windows, notice periods, liquidity availability, valuation cut-offs and settlement arrangements. The pool may need to redeem or sell underlying instruments before settling with the investor.

Redemptions are not instant or guaranteed. Gates, suspensions, delays, charges or other restrictions may apply where permitted by final pool conditions. Specific mechanics and timing will be published before any investment becomes available.