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Amendment: GIVFIN/ GIVIND/ GIVRES/ GIVISA/ NFSH40 - Distribution for the Quarter ended 30 June 2017
NEWFUNDS S&P GIVI SA FINANCIALS INDEX ETF
Share code: GIVFIN
ISIN: ZAE000205258
NEWFUNDS S&P GIVI SA INDUSTRIAL INDEX ETF
Share code: GIVIND
ISIN: ZAE000205241
NEWFUNDS NEWSA INDEX PORTFOLIO
Share code: NEWFSA
ISIN: ZAE000104055
NEWFUNDS S&P GIVI SA TOP 50 INDEX ETF
Share code: GIVISA
ISIN: ZAE000205225
NEWFUNDS SHARIAH TOP 40 INDEX ETF
Share code: NFSH40
ISIN: ZAE000130431
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)
AMMENDED DISTRIBUTION ANNOUNCEMENT FOR THE QUARTER ENDED 30 JUNE 2017
Further to the announcement published on Monday, 05 June 2017, a distribution was declared yesterday, 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:
Alpha code Dividend/ Foreign/ Gross Subject to Withholding *Withholding Net
Interest Local Distribution tax Tax (%) Distribution
(Cents per unit) Yes/ No (Cents per unit)
NEWFSA Interest Local 1.77333 No 1.77333
Dividend Local 33.36598 Yes 20 26.69278
Dividend Foreign*** 30.16928 Yes 20 24.13542
Dividend REITs** 5.86819 Yes **20 4.69455
71.17678 57.29608
NFSH40 Interest Local 0.00000 No 0.00000
Dividend Local 0.66347 Yes 20 0.53078
Dividend Foreign*** 0.62056 Yes 20 0.49645
1.28403 1.02723
GIVFIN Interest Local 0.37891 No 0.37891
Dividend Local 19.93246 Yes 20 15.94597
Dividend Foreign*** 0.00138 Yes 20 0.00110
Dividend Foreign (ITU) 8.55289 No 8.55289
Dividend REITs** 8.96049 Yes **20 7.16839
37.82613 32.04726
GIVIND Interest Local 0.27660 No 0.27660
Dividend Local 10.37787 Yes 20 8.30230
Dividend Foreign*** 1.82014 Yes 20 1.45611
12.47461 10.03501
GIVISA Interest Local 0.03921 No 0.03921
Dividend Local 2.51229 Yes 20 2.00983
Dividend Foreign*** 0.41497 Yes 20 0.33198
Dividend Foreign (ITU)* 0.56904 No 0.56904
Dividend REITs** 0.59621 Yes **20 0.47697
4.13172 3.42703
The distribution was paid yesterday on Tuesday, 18 July 2017 to all securities holders recorded on the register on Friday, 23 June 2017.
Further to the announcement published 13 July 2017, the distribution amount will not be re-invested but paid out to investors.
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.
Holders of Shariah ETF securities
Holders of Shariah ETF securities (“investors”) are advised that the appropriate purification of dividends, through the donation of 5% of the dividends to charity, needs to be effected by each
investor. Absa Islamic Banking's Shari'ah Supervisory Board (''SSB'') has provided the following list of approved charitable institutions. The list is not exhaustive and it is therefore not obligatory to
use one of the specified charities:
1. Al Furqaan Orphanage (Gauteng)
2. Gift of the Givers (RSA)
3. SANZAF (RSA)
4. Africa Muslims Agency (RSA)
5. Al-Imdaad Foundation
6. Muslim Hands (RSA)
7. Islamic Relief Agency (RSA)
8. Bait-ul-Khair (Gauteng)
9. TIBA Services for the Blind (Gauteng)
10. Mustadafin Foundation (www.mustadafin.com)
Investors should seek advice from their tax advisor on whether the tax and rate shown is applicable to them.
* INTU PROPERTIES PLC (ITU) is a UK listed REIT. The dividends received have been subject to a 20% withholding tax.
***Foreign dividend source may be viewed via the Absa Capital ETF website (http://etfcib.absa.co.za).
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
GIVFIN 1,322,216 9181003188
GIVIND 400,814 9005418224
GIVISA 2,057,255 9180010184
NEWFSA 772,724 9004206224
NFSH40 15,575,446 9403872162
19 July 2017
Sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking division)
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