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NEWFUNDS COLLECTIVE INVEST SCHEME - MAPPSG - Distribution and re-investment for the quarter ended 30 September 2017

Release Date: 19/10/2017 08:00
Code(s): MAPPSG     PDF:  
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MAPPSG - Distribution and re-investment for the quarter ended 30 September 2017

NEWFUNDS (RF) PROPRIETARY LIMITED MAPPS GROWTH ETF PORTFOLIO
Share code: MAPPSG
ISIN: ZAE000153763

Portfolios in the NewFunds (RF) Proprietary Limited 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
30 SEPTEMBER 2017

Further to the announcement published on Monday, 11 September 2017, a distribution has been declared
today, Thursday 19 October 2017 to holders of ETF securities ("investors") recorded in the register on
Friday, 29 September 2017, for the quarter ended 30 September 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        6.22988           No                           6.22988
               Dividend        Local        11.37485          Yes           20             9.09988
               Dividend        Foreign      16.09405          Yes           20             12.87524
                               (Other)
               Dividend        Foreign      0.44221           No                           0.44221
                               (CFR)*
               Dividend        REITs**      1.39551           Yes           **20           1.11641
                                            35.53650                                       29.76362

The distribution will be paid on Tuesday, 24 October 2017 to all securities holders recorded on the
register on Friday, 29 September 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.

* COMPAGNIE FINANCIERE RICHMONT SA (CFR) is a Switzerland listed Company. The dividends
received have been subject to a 20% 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:
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 of securities in issue                   Tax reference number
MAPPSG         1,806,698                                       9020590221

19 October 2017

Sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking division)

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