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GEN -General - NEWFUNDS COLLECTIVE INVESTMENT SCHEME - Approval for the proposed listing of the NewFunds
NEWFUNDS COLLECTIVE INVESTMENT SCHEME IN SECURITIES establishment of the NEWFUNDS VALUE EQUITY ETF
JSE Share Code: NFEVAL
ISIN: ZAE000252466
(“NewFunds Value Equity ETF” or the “Portfolio”)
A Portfolio under the NewFunds Collective Investment Scheme in Securities (“NewFunds”) registered as
such in terms of the Collective Investment Schemes Control Act, 45 of 2002 and managed by NewFunds
(RF) Proprietary Limited (Registration Number 2005/034899/07) (the “Manager”).
Approval of the proposed listing of the NewFunds Value Equity ETF in the Exchange Traded Fund
sector on the Main Board of the JSE Limited (“JSE”)
This announcement is issued in compliance with section 19.27 of the JSE Listings Requirements for
information purposes only. The information set out below has been extracted from a written offering
circular (“Offering Circular”), issued by the Manager on 3 September 2007 and the applicable portfolio
supplement (“Applicable Portfolio Supplement” or “APS”), issued on 5 December 2017 (collectively, the
“offering documents”), which are available as set out below. The JSE granted approval for the listing of
the Portfolio on the 15 December 2017.
INTRODUCTION
The Portfolio has been established with the intention of allowing an Investor to obtain market exposure to
the Constituent Securities which demonstrate value characteristics in their performance by tracking the
NewFunds Wits Risk-Controlled SA Value Index. The Index was created by Absa Bank Limited (“Absa”)
in collaboration with Wits University using their FinData database in consultation with A+ Proprietary
Limited. The value risk premia is measured by a multi factor value approach (low price-to-earnings and
price-to-book ratios). The index applies liquidity filters to target only highly liquid securities from the JSE
Listed Equity universe; and is weighted using a risk parity approach. Research has shown that value
strategies that rank stock based on their current fundamental valuation as measured by well-known price-
ratios, deliver superior relative performance to the overall market-cap weighted index over the medium to
long-term.
The establishment of this Portfolio completes NewFunds equity factor range which also includes
NewFunds Low Volatility Equity ETF and NewFunds Momentum Equity ETF.
LISTING SUMMARY AND OFFER STRUCTURE
Due to the fact that the portfolio is listed, Investors are able to participate by acquiring Participatory
Interest in the Portfolio by way of an initial offer. The initial offer is available to both retail and institutional
Investors, and is available via various investment or trading platforms, participant brokers, any other JSE
broker member or the applicant’s CSDP.
During the initial offer, applicants shall be entitled to subscribe for Participatory Interests either in cash or
in-specie at the offer price. There is no minimum or maximum number of Participatory Interests which
may be issued in terms of the initial offer. After the close of the initial offer, applicants will be able to
acquire the participatory interests on the secondary market for cash via a JSE Broker; or by way of ‘in-
specie’ subscriptions via the Manager.
SALIENT DATES AND TIMES AND FURTHER ANNOUNCEMENT
Sens announcements of Listing Approval Friday 15 December 2017
Opening date of Initial Offer at 9:00 on: Thursday 1 March 2018
Closing date of Initial Offer at 12:00 on†: Thursday 15 March 2018
Publication of announcement on SENS as to the results of the initial offer: Friday 16 March 2018
Letters of allocation issued Friday 16 March 2018
Settlement of the LA Monday 19 March 2018
Opening Date of Ramp-Up Period at 09:00 on Monday 19 March 2018
Closing Date of Ramp-Up Period* at 17:00 on Thursday 22 March 2018
Conversion ratio published Friday 23 March 2018
Listing Date (In Specie Subscriptions) at 09:00 on Monday 26 March 2018
Listing Date (Cash Subscriptions)* at 09:00 on Monday 26 March 2018
Copies of the Offering Circular and the Applicable Portfolio Supplement are available on the NewFunds
website: www.etfcib.absa.co.za.
Johannesburg
15 December 2017
Market Maker and JSE sponsor
Absa Corporate and Investment Banking, a division of Absa Bank Limited
Date: 15/12/2017 04:58:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
