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NEWFUNDS COLLECTIVE INVEST SCHEME - MAPPSP/MAPPSG - Distribution and Re-Investment for the quarter ended 31 December 2016

Release Date: 16/01/2017 08:00
Code(s): MAPPSP MAPPSG     PDF:  
Wrap Text
MAPPSP/MAPPSG - Distribution and Re-Investment for the quarter ended 31 December 2016

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 2016
Further to the announcement published on Thursday, 01 December 2016, a distribution has been declared today, Monday 16 January 2017 to holders of
ETF securities ("investors") recorded in the register on Friday, 23 December 2016, for the quarter ended 31 December 2016 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)
      MAPPSG                  Interest                 Local                     7.08199         No                                            7.08199
                              Dividend                 Local                     5.40970         Yes                    15                     4.59825
                              Dividend            Foreign (Other)                1.72866         Yes                    15                     1.46936
                              Dividend                 REITs**                   0.62450         Yes                  **15                     0.53083
                              Dividend            Foreign (ITU)*                 0.00000         No                                            0.00000
                                                                                14.84485                                                       13.68043

      MAPPSP                  Interest                 Local                     24.10627        No                                            24.10627
                              Dividend                 Local                      5.01477        Yes                   15                      4.26255
                              Dividend            Foreign (Other)                 1.60972        Yes                   15                      1.36826
                              Dividend                 REITs**                    0.59130        Yes                 **15                      0.50261
                              Dividend            Foreign (ITU)*                  0.00000        No                                            0.00000
                                                                                 31.32206                                                      30.23969


The distribution will be paid on Thursday 19 January 2017 to all securities holders recorded on the register on Friday, 23 December 2016.

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.

* BHP BILLITON PLC (BIL) is a UK resources company. The dividends received have been subject to a 15% SA withholding tax
* REDIFINE PROPERTIES PLC (RPL) is a UK resources company. The dividends received have been subject to a 15% SA withholding tax
* INTU PROPERTIES PLC (ITU) is a UK resources company. The dividends received have been subject to a 15% SA withholding tax

 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
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

MAPPSG                     1,806,698           9020590221
MAPPSP                     1,108,764           9399122176

16 January 2017

Sponsor
Absa Corporate and Investment Bank, a division of Absa Bank Limited

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