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NEWFUNDS COLLECTIVE INVEST SCHEME - NFSH40 - Distribution for the quarter ended 31 March 2018

Release Date: 18/04/2018 14:30
Code(s): NFSH40     PDF:  
Wrap Text
NFSH40 - Distribution for the quarter ended 31 March 2018

NEWFUNDS SHARIAH TOP 40 SA INDEX ETF PORTFOLIO
Share code: NFSH40
ISIN: ZAE000130431

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 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/                  Foreign/                  Gross             Subject to Withholding      *Withholding              Net
                                      Interest                   Local                 Distribution                   tax                  Tax (%)            Distribution
                                                                                     (Cents per unit)              Yes/ No                                  (Cents per unit)
         NFSH40                        Dividend                  Local                           3.03033             Yes                     20                       2.42426
                                       Dividend                 Foreign                          2.35974             Yes                     20                       1.88779
                                       Dividend                 REITs**                          0.42293             Yes                     20                       0.33834

                                                                                                5.81300                                                              4.65039
Further details are listed below:
Source of foreign taxable dividends:
Luxembourg                                                                                                                  91.73%
Isle of Man                                                                                                                  8.27%
                                                                                                                           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.

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.

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
NFSH40                              15,575,446                9403872162

18 April 2018

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

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