JSE LIMITED - GEN -General - NEWFUNDS COLLECTIVE INVESTMENT SCHEME - Approval for the proposed listing of the NewFunds

GEN -General - NEWFUNDS COLLECTIVE INVESTMENT SCHEME - Approval for the proposed listing of the NewFunds

NEWFUNDS COLLECTIVE INVESTMENT SCHEME IN SECURITIES establishment of the NEWFUNDS LOW VOLATILITY EQUITY ETF
JSE Share Code: NFEVOL
ISIN: ZAE000252458
(“NewFunds Low Volatility 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 for the proposed listing of the NewFunds Low Volatility 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
a diversified basket of Constituent Securities in the South African equity market which exhibit Low
Volatility characteristics in their performance by tracking the NewFunds Wits Risk-Controlled SA Low
Volatility 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 Low Volatility risk
premia is measured by a low volatility multi factor approach (low absolute volatility and low systematic
risk). 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 low volatility strategies
that rank securities based on their level of relative volatility as measured by standard deviation or beta,
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 Value Equity ETF and NewFunds Momentum Equity ETF.

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 04:59:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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