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NFEMOM: Distribution And Re-Investment Announcement For The Quarter Ended 31 March 2018.
NEWFUNDS EQUITY MOMENTUM EXCHANGE TRADED FUND PORTFOLIO
Share code: NFEMOM
ISIN: ZAE000162236
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 31 MARCH 2018
NewFunds has today finalised a distribution to holders of ETF securities ("investors") recorded as such in the register on Thursday, 26
April 2018, for the quarter ended 31 March 2018 as follows:
Alpha code Dividend/Interest Foreign/ Local Gross Subject to *Withholding Net
Distribution Withholding tax Tax (%) Distribution
(Cents per unit) Yes/ No (Cents per unit)
NFEMOM Interest Local 0.14676 No 0.14676
Dividend Local 30.63653 Yes 20 24.50922
Dividend REITs** 5.95961 Yes **20 4.76769
Dividend Foreign (Other) 3.89861 Yes 20 3.11889
40.64151 32.54256
Further details are listed below:
Source of foreign taxable dividends:
Luxembourg 100.00%
Notice is hereby given that the following dates are of importance in regard to the distribution by the above ETF for the quarter ended 31
March 2018:
Declaration/ Finalisation date Wednesday, 18 April 2018
Last day to trade Monday, 23 April 2018
Ex distribution Tuesday, 24 April 2018
Record date Thursday, 26 April 2018
Payment date Monday, 30 April 2018
The distribution will be paid on Monday, 30 April 2018 to all securities holders recorded on the register on Thursday, 26 April
2018.
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.
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 2,650,000 9400119179
19 April 2018
Sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking division)
Date: 18/04/2018 01:25:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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