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NFSWIX; MAPPSG and MAPPSP - Distribution and re-investment for the quarter ended 31 December 2015
NEWFUNDS SWIX 40 EXCHANGE TRADED FUND PORTFOLIO
Share code: NFSWIX
ISIN: ZAE000163754
NEWFUNDS MAPPS PROTECT ETF PORTFOLIO
Share code: MAPPSP
ISIN: ZAE000153771
NEWFUNDS MAPPS GROWTH ETF PORTFOLIO
Share code: MAPPSG
ISIN: ZAE000153763
Portfolios in the NewFunds Collective Investment Scheme in Securities registered as such in terms of the Collective Investment Schemes Control Act,
45 of 2002 and managed by NewFunds Proprietary Limited (Registration Number 2005/034899/07)
DISTRIBUTION AND RE-INVESTMENT ANNOUNCEMENT FOR THE QUARTER ENDED 31 DECEMBER 2015
Further to the announcement published on Thursday, 03 December 2015, a distribution has been declared today, Friday 15 January 2016 to holders of
ETF securities ("investors") recorded in the register on Thursday, 24 December 2015, for the quarter ended 31 December 2015 as follows:
Alpha code Dividend/Interest Foreign/ Local Gross Subject to Withholding Net
Distribution Withholding tax Tax (%) Distribution
(Cents per unit) Yes/ No (Cents per unit)
NFSWIX Interest Local 0.16601 No 0.16601
Dividend Local 4.75169 Yes 15 4.03894
Dividend Foreign (Other) 0.13044 Yes 15 0.11087
Dividend Foreign (ITU)* 0.08188 No 0.08188
Dividend REITs** 0.36998 Yes **15 0.31448
5.50000 4.71218
MAPPSG Interest Local 7.04110 No 7.04110
Dividend Local 6.50336 Yes 15 5.52786
Dividend Foreign (Other) 0.17617 Yes 15 0.14974
Dividend Foreign (ITU)* 0.11446 No 0.11446
Dividend REITs** 0.50585 Yes **15 0.42997
14.34094 13.26313
MAPPSP Interest Local 23.25004 No 23.25004
Dividend Local 6.13937 Yes 15 5.21846
Dividend Foreign (Other) 0.16449 Yes 15 0.13982
Dividend Foreign (ITU)* 0.10678 No 0.10678
Dividend REITs** 0.48350 Yes **15 0.41098
30.14418 29.12608
The distribution will be paid on Wednesday, 20 January 2016 to all securities holders recorded on the register on Thursday, 24 December
2015.
The net distribution amount (after the deduction of Dividend Withholding Tax (''DWT'') at a current rate of 15%) will be re-invested in the ETF on behalf
of investors through the purchase of additional Constituent Securities (as defined in the relevant Portfolio Supplement) in the appropriate weightings,
thereby increasing the net asset value of the ETF and, proportionately increasing the value of each ETF security. As a consequence of reinvesting the
net distribution amount (comprising only 85% after the deduction of DWT), the ETF will be tracking the relevant total return net-of-dividend tax index.
Investors qualifying for exemption from DWT or a reduced rate of DWT per Double Tax Agreement ("DTA"), will receive, in cash, a distribution amount
of the applicable DWT, provided they have completed and timeously lodged with the relevant intermediary the prescribed declaration and undertaking
form.
Failure to do so will result in the dividends tax being withheld in full.
Withholding Tax on Interest (WTI) came into effect on 1 March 2015.
Interest accruing from a South African source to a non-resident, excluding a controlled foreign company, will be subject to withholding tax at a rate of
15% on payment, except interest,
• arising on any Government debt instrument
• arising on any listed debt instrument
• arising on any debt owed by a bank or the South African Reserve Bank
• arising from a bill of exchange or letter of credit where goods are imported into South Africa and where an authorized dealer has certified such on the
instrument
• payable by a headquarter company
• accruing to a non-resident natural person who was physically present in South Africa for a period exceeding 183 days in aggregate, during that year,
or carried on a business through a permanent establishment in South Africa
Investors are advised that to the extent that the distribution amount comprise of any interest, it will not be subject to WTI by virtue of the fact
that it is Government debt, listed debt instruments and/or bank debt.
Investors should seek advice from their tax advisor on whether the tax and rate shown is applicable to them.
* Intuprop (ITU) is a UK Real Estate Investment Trust. The dividends received have been subject to a 20% withholding
South African tax resident investors relating to REITs
**The dividend distribution by a REIT received by South African tax residents must be included in their gross income and will not be exempt
in terms of the ordinary dividend exemption in section 10(1)(k)(i) of the Income Tax Act No. 58 of 1962 (“the Act”) as a result of paragraph
(aa) of the proviso thereto which provides that dividends distributed by a REIT are not exempt from income tax.
No dividend withholding tax will be deducted from dividends payable to a South African tax resident qualifying for exemption from dividend
withholding tax provided that the investor has provided the following forms to their Central Securities Depository Participant (“CSDP”) or
broker, as the case may be in respect of its participatory interest:
b) a written undertaking to inform their CSDP or broker, as the case may be, should the circumstances affecting the exemption change or
the beneficial owner cease to be the beneficial owner, both in the form prescribed by the South African Revenue Service. South African tax resident
investors are advised to contact their CSDP or broker, as the case may be, to arrange for the abovementioned documents to be submitted prior to payment
of the distribution, if such documents have not already been submitted.
Non-resident investors for South African income tax purposes
The dividend distribution received by non-resident investors will be exempt from income tax in terms of section 10(1)(k)(i) of the Act, but will
be subject to dividend withholding tax. Dividend withholding tax is levied at a rate of 15%, unless the rate is reduced in terms of any
applicable agreement for the avoidance of double taxation (“DTA”) between South Africa and the country of residence of the non-resident
investor.
A reduced dividend withholding rate in terms of the applicable DTA may only be relied on if the non-resident investor has provided the
following forms to their CSDP or broker, as the case may be in respect of its participatory interest:
a) a declaration that the dividend is subject to a reduced rate as a result of the application of a DTA; and
b) a written undertaking to inform the CSDP or broker, as the case may be, should the circumstances affecting the reduced rate change or
the beneficial owner cease to be the beneficial owner, both in the form prescribed by the South African Revenue Service. Non-resident investors
are advised to contact their CSDP or broker, as the case may be, to arrange for the abovementioned documents to be submitted prior to the payment of
the distribution if such documents have not already been submitted.
Both resident and non-resident investors are encouraged to consult their professional advisors should they be in any doubt as to the
appropriate action to take.
Additional information:
Number Tax
of securities reference
in issue number
NFSWIX 1,000,000 9022543228
MAPPSG 1,806,698 9020590221
MAPPSP 1,108,764 9399122176
15 January 2016
Sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking division)
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