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NFEMOM - Distribution and Re-Investment for the quarter ended 30 June 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)
Further to the announcement published on Monday, 05 June 2017, a distribution has been declared today, Thursday 13 July 2017 to holders of ETF securities ("investors")
recorded in the register on Friday, 23 June 2017, for the quarter ended 30 June 2017 as follows:
Gross Subject to Withholding *Withholding Net
Alpha code Dividend/Interest Foreign/ Local Distribution tax Tax (%) Distribution
(Cents per unit) Yes/ No (Cents per unit)
NFEMOM Interest Local 0.09965 No 0.09965
Dividend Local 8.23369 Yes 20 6.58695
8.33334 6.68660
The distribution will be paid on Tuesday, 18 July 2017 to all securities holders recorded on the register on Friday, 23 June 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.
*Investors should seek advice from their tax advisor on whether the tax and rate shown is applicable to them.
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:
a) a declaration that the distribution is exempt from dividends tax; and
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 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 Tax
of securities reference
in issue number
NFEMOM 1 800 000 9400119179
13 July 2017
Sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking division)
Date: 13/07/2017 05:01:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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