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Amendment Announcement: MAPPSG/ MAPPSP/ NFSWIX - Distribution and re-investment for the quarter ended 31 March 2017
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)
AMENDMENT ANNOUNCEMENT: DISTRIBUTION AND RE-INVESTMENT ANNOUNCEMENT FOR THE QUARTER
ENDED 31 MARCH 2017
Following on the announcement released earlier today, holders of ETF securities ("investors") are advised that an
amendment has been made to the NFSWIX "Net Distribution" amount. No tax is payable for BTI. The remained of the
announcement remains unchanged, as set out below.
Further to the announcement published on Monday, 06 March 2017, a distribution has been declared today, Thursday 13
April 2017 to holders of ETF securities ("investors") recorded in the register on Friday, 24 March 2017, for the quarter
ended 31 March 2017 as follows:
Alpha Dividend/ Foreign/ Gross Subject to Withholding Net
code Interest Local Distribution Withholding Tax (%) Distribution
(Cents per tax (Cents per
unit) Yes/ No unit)
MAPPSG Interest Local 6.57957 No 6.57957
Dividend Local 2.65812 Yes 20 2.12650
Dividend Foreign (BIL) 0.62047 No 0.62047
Dividend REITs** 0.41877 Yes **20 0.33502
Dividend Foreign (BTI)* 1.62999 No 1.62999
Dividend Foreign (SNH)* 0.30815 No 0.30815
12.21507 11.59970
MAPPSP Interest Local 24.68625 No 24.68625
Dividend Local 2.75522 Yes 20 2.20418
Dividend Foreign (BIL) 0.57589 No 0.57589
Dividend REITs** 0.37424 Yes **20 0.29939
Dividend Foreign (BTI)* 1.51341 No 1.51341
29.90501 29.27912
NFSWIX Interest Local 0.08411 No 0.08411
Dividend Local 2.58800 Yes 20 2.07040
Dividend Foreign (Other) 0.00000 Yes 20 0.00000
Dividend Foreign (BIL)* 0.54116 No 0.54116
Dividend REITs** 0.36518 Yes **20 0.29214
Dividend Foreign (BTI)* 1.42155 No 1.42155
5.00000 4.40936
The distribution will be paid on Thursday 20 April 2017 to all securities holders recorded on the register on
Friday, 24 March 2017.
The net distribution amount (after the deduction of Dividend Withholding Tax (''DWT'') at a current rate of 20%) 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 80% 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
* BRITISH AMERICAN TOBACCO PLC (BTI) is a UK resources company.
The dividends received have been subject to a 15% SA withholding tax
* STEINHOFF INTERNATIONAL HOLDINGS NV (SNH) is a German 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.
a) 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
MAPPSG 1,806,698 9020590221
MAPPSP 1,108,764 9399122176
NFSWIX 1,000,000 9022543228
13 April 2017
Sponsor
Absa Corporate and Investment Bank, a division of Absa Bank Limited
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