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Distribution Finalisation Announcement Quarter End 30 June 2025 -27FSMF
27four Collective Investments (RF) (Pty) Ltd ("the Manager")
(Registration number 2015/291620/07)
the 27four Collective Investment Scheme in ETF Securities
27four SA Multi-Factor Equity AMETF ("27FSMF")
("the portfolio under the 27four Collective Investments Scheme in ETF Securities, registered as such in terms of the
Collective Investment Schemes Control Act, 45 of 2002")
Alpha/Share code: 27FSMF
Long Name: SMF Actively Managed ETF
Short name: SMFAMETF
ISIN: ZAE000338406
DISTRIBUTION FINALISATION ANNOUNCEMENT QUARTER END 30 JUNE 2025
The Manager and Trustees of the 27four Collective Investment Scheme in ETF Securities (being 27four Collective
Investments (RF) (Pty) Ltd and Standard Bank), respectively, have declared a distribution to holders of 27FSMF
securities ('investors') recorded in register on Friday, 11 July 2025 in respect of the quarter ended 30 June 2025.
An aggregate amount of 18.79050 cents (R0.1879050) per 27FSMF security is declared as follows:
Dividend
27FSMF Dividend Dividend Dividend (64N > DTA) Interest Interest REIT TOTAL
Distribution Source Foreign Foreign Foreign SA
type Local SA Listed SA Listed Listed Local Local Local
Net Distribution
Reinvested No No No No No No No
Source of Funds
(Country Code) ZA AU GB BE ZA ZA ZA
Subject to Foreign
Withholding tax No No No Yes No No No
Gross Foreign Rate
(cents per unit) 0.00155 4.95513 0.31720
Foreign Tax %
withheld at source 30.00000%
Foreign Tax amount
per unit 0.09516
DTA with Source 15.00000 15.0000
Country % % 15.00000%
Foreign Tax Reclaim
% 15.00000%
Portfolio/Management
Cost 0.01036
Interest Expense
Other costs
Gross ZA Distribution
(Cents per unit) 12.21155 0.00155 4.95513 0.21168 0.19767 0.01104 1.20188 18.79050
Applicable to non-exempt South African shareholders:
Gross Local Rate
(cents per unit) 12.21155 0.00155 4.95513 0.30684 0.19767 0.01104 1.20188
SA Withholding Tax 20.00000 20.00000 20.00000
% % % % 5.00000% Note 1
SA Withholding Tax
amount per unit 2.44231 0.00031 0.99103 0.01534
Local Net Rate 9.76924 0.00124 3.96410 0.19634 0.19767 0.01104 1.20188 15.34151
Note 1. Distributions by Real Estate Investment Trusts (REITs) are subject to income tax for South African tax
residents, and subject to 20% withholding tax for non-residents. The gross rate for non-residents is 1.20188 and
the net rate is 0.96150 cents per security
Notice is hereby given that the following dates are of importance with regards to the distribution for the quarter
ended 30 June 2025 by the AMETF to holders of 27FSMF securities:
Declaration Date Thursday, 03 July 2025
Last day to trade "cum" distribution: Tuesday, 08 July 2025
Securities trade "ex" distribution: Wednesday, 09 July 2025
Record date: Friday, 11 July 2025
Payment date: Monday, 14 July 2025
The distribution will be paid on Monday, 14 July 2025 to all securities holders recorded in the register on Friday, 11
July 2025.
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, 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, 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,
to arrange for the abovementioned documents to be submitted prior to payment of the distribution, if such
documents have not already been submitted.
Distributions by Real Estate Investment Trusts (REITs) are subject to income tax for South African tax residents
and for non-residents it is subject to 20% SA withholding tax.
*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.
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, 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 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, 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.
Cape Town
03 July 2025
Listing Advisor
Prescient Capital Markets (Pty) Ltd
Date: 03-07-2025 11:30:00
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