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Implementation of the Change to the Portfolio Name, Distribution Methodology and Index
SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX ILBI PORTFOLIO
JSE Code: STXRAF
ISIN: ZAE000126033
("Satrix RAFI 40" or the "ETF")
A portfolio in the Satrix Collective Investment Scheme, registered as
such in terms of the Collective Investment Schemes Control Act, 45 of
2002
IMPLEMENTATION OF THE CHANGE TO THE PORTFOLIO NAME, DISTRIBUTION
METHODOLOGY AND INDEX
Holders of Satrix RAFI40 securities are referred to the communication
sent out by the Satrix Collective Investment Scheme on 11 July 2023
regarding the proposed name change of the portfolio, distribution
methodology and the change of the underlying index which the Satrix
RAFI 40 Index Portfolio tracks.
The change in the name to Satrix RAFI 40 ETF and change to the FTSE/JSE
RAFI 40 Index (Price return) has become effective as from Sunday, 01
October 2023.
As per the SENS Announcement, the implementation of the FTSE/JSE
RAFI 40 Price Return Index as the new index which the ETF tracks has
had no effect on either the number of issued Satrix RAFI 40
securities, or the value of each Satrix RAFI 40 security.
There is however a difference in the total return index levels and the
price index level of the FTSE/JSE RAFI 40 Index which required that an
adjustment be made to the amount that each Satrix RAFI 40 security
represents of the FTSE/JSE RAFI 40 Price Return Index.
Therefore, to cater for the difference in the closing index levels a
factor of 1.51236943 (“Adjustment Factor”) was calculated.
Previously each Satrix RAFI 40 security tracking the FTSE/JSE RAFI 40
Price Return Index represented 1/200th of the index level plus an amount
which reflects a pro rata portion of any accrued distribution amount
within the portfolio.
Post the implementation of the new index, each Satrix RAFI 40 security
tracking the FTSE/JSE RAFI 40 Price Return Index will now represent
1/200th of the index level x the Adjustment Factor of 1.51236943 (the
adjustment factor) plus an amount which reflects a pro rata portion of
any accrued distribution amount within the portfolio.
The Satrix RAFI 40 ETF will distribute quarterly, next declaration date
is 31 December 2023.
02 October 2023
JSE Sponsor
Vunani Sponsors
Date: 02-10-2023 05:15:00
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