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NFEMOM - Amendment Announcement: Distribution and re-investment for the quarter ended 31 March 2017
NEWFUNDS EQUITY MOMENTUM EXCHANGE TRADED FUND PORTFOLIO
Share code: NFEMOM
ISIN: ZAE000162236
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 on 13 April 2017, holders of ETF securities ("investors") are
advised that an amendment has been made to the "Net Distribution" amount. All foreign dividends are
subjected to withholding tax.
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 STC Net
code Interest Local Distribution Withholding Tax (%) (Cents Distribution
(Cents per tax per (Cents per
unit) Yes/ No unit) unit)
NFEMOM Dividend Foreign 0.36202 YES 0.28962
(BIL)*
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 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.
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 20%, 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 of securities in issue Tax reference number
NFEMOM 1,600,000 9400119179
18 April 2017
Sponsor
Absa Corporate and Investment Bank, a division of Absa Bank Limited
Date: 18/04/2017 10:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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