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Implementation Of The Change To The FTSE/JSE Inflation- Linked Government Index (“IGOV”) And Portfolio Name
SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX ILBI PORTFOLIO
JSE Code: STXILB
ISIN: ZAE000240123
("Satrix ILBI" or the "ETF")
A portfolio in the Satrix Collective Investment Scheme, registered as
such in terms of the Collective Investment Schemes Control Act, 45 of
2002
IMPLEMENTATION OF THE CHANGE TO THE FTSE/JSE INFLATION- LINKED
GOVERNMENT INDEX (“IGOV”) AND PORTFOLIO NAME
Holders of Satrix ILBI securities are referred to the communication
sent out by the Satrix Collective Investment Scheme on 08 June
2023 regarding the proposed name change of the portfolio and the
change of the underlying index which the Satrix ILBI Portfolio tracks.
The change in the name to Satrix ILBI ETF and change to the FTSE/JSE
Inflation-Linked Government Index (“IGOV”) has become effective as
from Friday, 01 September 2023.
As per the SENS Announcement, the implementation of the FTSE/JSE
Inflation-Linked Government Index as the new index which the ETF tracks
has had no effect on either the number of issued Satrix I L B I
securities, or the value of each Satrix I L B I security.
There is however a difference in the closing index levels of the
S&P South Africa Sovereign Inflation -Linked Bond 1+Year Index and
the FTSE/JSE Inflation-Linked Government Index which required that an
adjustment be made to the amount that each Satrix ILBI security
represents of the FTSE/JSE Inflation-Linked Government Index.
Therefore, to cater for the difference in the closing index levels a
factor of 3.94900 (“Adjustment Factor”) was calculated.
Previously each Satrix ILBI security tracking the S&P South Africa
Sovereign Inflation -Linked Bond 1+Year Index represented 1/100th of
the index level plus an amount which reflects a pro rata portion of
any accrued distribution amount within the portfolio.
Post the implementation of the new index, each Satrix ILBI security
tracking the FTSE/JSE Inflation-Linked Government Index will now
represent 1/100th of the index level x the Adjustment Factor of 3.94900
(the adjustment factor) plus an amount which reflects a pro rata
portion of any accrued distribution amount within the portfolio.
07 September 2023
JSE Sponsor
Vunani Sponsors
Date: 07-09-2023 04:50:00
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