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Special Distribution Finalisation Announcement For The 2 Months Ended 31 August 2023 - STXILB
SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX ILBI PORTFOLIO
JSE code: STXILB
ISIN: ZAE000240123
(“Satrix ILBI”)
A portfolio in the Satrix Collective Investment Scheme in Securities, registered as such in terms of the Collective Investment
Schemes Control Act, 45 of 2002.
SPECIAL DISTRIBUTION FINALISATION ANNOUNCEMENT FOR THE 2 MONTHS ENDED 31 AUGUST 2023
Holders of Satrix ILBI securities are referred to the announcement published on JSE SENS by the Satrix Collective Investment
Scheme on 08 June 2023 regarding the proposed change in the name to Satrix ILBI ETF, change in the underlying index which
the Satrix ILBI Portfolio tracks, and change in distribution methology.
With reference to announcement published on JSE SENS on 01 September 2023, the change in the name to Satrix ILBI ETF,
change to the FTSE/JSE Inflation-Linked Government Index (“IGOV”) and change to the distribution methodology has become
effective as from Friday, 01 September 2023.
Prior to 01 September 2023, coupons and interest from the underlying bonds were reinvested monthly. The STXILB Portfolio
declared a notional (deemed) distribution to unitholders bi-annually.
Effective 01 September 2023, the Satrix ILBI ETF tracks the FTSE/JSE Government Inflation-Linked Index (“IGOV”) as its
benchmark. The IGOV is a sub-index of the CILI Index that is comprised of bonds that are issued by the Republic of South Africa
which are linked to the South African Consumer Price Index. The index is now owned, maintained and calculated by FTSE/JSE
according to the dual ranking scheme. IGOV has an all-in-price capital index, which is necessary for a distributing bond ETF.
The first such distribution to be declared by the STXILB Portfolio to be governed by the Conduct Standard shall be the
distribution for the month ending 30 September 2023.
The Manager and Trustees of the Satrix Collective Investment Scheme (being Satrix Managers (RF) (Pty) Limited and Standard
Chartered Bank), respectively, have declared a special 'deemed' distribution to holders of Satrix ILBI securities ('investors')
recorded in the register on Friday, 15 September 2023 in respect of the period 01 July 2023 to 31 August 2023, being the last
period in which distributions are reinvested into the portfolio.
An aggregate amount of 4.37000 cents (R0.04370) per Satrix ILBI security is declared as follows:
Alpha Code: STXILB *Interest Total
Distribution Source type Local
Net Distribution Reinvested Yes
Source of Funds (Country Code) ZA
Subject to Foreign Withholding tax No
Gross Foreign Rate (cents per unit)
Foreign Tax % withheld at source
Foreign Tax amount per unit
DTA with Source Country
Foreign Tax Reclaim %
Portfolio/Management Cost
Interest Expense
Other costs
Gross ZA Distribution (Cents per unit) 4.37000 4.37000
**Applicable to non-exempt South African shareholders
Gross Local Rate (cents per unit) 4.37000
SA Withholding Tax %
SA Withholding Tax amount per unit
Local Net Rate 4.37000 4.37000
Notice is hereby given that the following dates are of importance in regard to the distribution for the 2 months ended 31
August 2023 by the ETF to holders of Satrix ILBI securities:
Last day to trade “cum” distribution: Tuesday, 12 September 2023
Securities trade “ex” distribution: Wednesday, 13 September 2023
Record date: Friday, 15 September 2023
Reinvestment date: Monday, 18 September 2023
In accordance with the investment policy of the ETF the distributions were re-invested on behalf of investors through the
purchase of securities comprising the Index, thereby increasing the net asset value of ETF and, proportionately, each ETF
security.
To the extent that the distributions (or any part thereof) are taxable in the hands of an investor, the investor will be liable for
the tax associated with such distributions, notwithstanding that the distributions are re-invested on behalf of investors (and are
not paid over to investors).
The distribution will:
- where Satrix ILBI securities are held on capital account be added to the base cost of each Satrix ILBI security for capital gains
tax purposes; or
- where Satrix ILBI securities are held as trading stock be regarded as part of the cost of acquiring a Satrix ILBI security.
The distribution is calculated after taking into account accrued expenses incurred by the fund and thus represents a distribution
net of fund expenses.
*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.
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.
Sandton
06 September 2023
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Date: 06-09-2023 08:30:00
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