Back to SENS list
PRINT this article 
NEWFUNDS COLLECTIVE INVEST SCHEME - NFEMOM: Distribution and Re-Investment Announcement for the Quarter Ended 30 September 2018.11 Oct 2018
NFEMOM 201810110033A
NFEMOM: Distribution and Re-Investment Announcement for the Quarter Ended 30 September 2018.

NEWFUNDS EQUITY MOMENTUM EXCHANGE TRADED FUND PORTFOLIO
Share code: NFEMOM
ISIN: ZAE000162236


Portfolios in the NewFunds Collective Investment Scheme in Securities registered as such in terms of the Collective Investment Schemes
Control Act, 45 of 2002 and managed by NewFunds (RF) Proprietary Limited (Registration Number 2005/034899/07)

DISTRIBUTION AND RE-INVESTMENT ANNOUNCEMENT FOR THE QUARTER ENDED 30 SEPTEMBER 2018
NewFunds has today finalised a distribution to holders of ETF securities ("investors") recorded as such in the register on Friday, 19
October 2018, for the quarter ended 30 September 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                Dividend             REITs**                  9.29056      Yes                      20                   7.43245
                          Dividend             Foreign                  6.90332      Yes                      20                   5.52266
                          Interest              Local                   0.10742       No                                           0.10742
                          Dividend              Local                  33.17547      Yes                      20                  26.54038
                                                                       49.47677                                                   39.60291

Further details are listed below:

Source of monetary funds subject to foreign dividend tax:
United Kingdom                                                                              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 30
September 2018:

Declaration/ Finalisation date                                Thursday, 11 October
Last day to trade                                             Tuesday, 16 October
Ex distribution                                               Wednesday, 17 October
Record date                                                   Friday, 19 October
Payment date                                                  Monday, 22 October

The distribution will be paid on Monday, 22 October to all securities holders recorded on the register on Friday, 19 October
2018.

The net distribution amount (after the deduction of Dividend Withholding Tax (''DWT'') at a current rate of 20%) will be re-invested in the
ETF on behalf of investors through the purchase of additional Constituent Securities (as defined in the relevant Portfolio Supplement) in
the appropriate weightings, thereby increasing the net asset value of the ETF and, proportionately increasing the value of each ETF
security. As a consequence of reinvesting the net distribution amount (comprising only 80% after the deduction of DWT), the ETF will be
tracking the relevant total return net-of-dividend tax index.

Investors qualifying for exemption from DWT or a reduced rate of DWT per Double Tax Agreement ("DTA"), will receive, in cash, a
distribution amount of the applicable DWT, provided they have completed and timeously lodged with the relevant intermediary the
prescribed declaration and undertaking form.
Failure to do so will result in the dividends tax being withheld in full.

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.
*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

NFEMOM                   2,650,000          9400119179

11 October 2018

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

Date: 11/10/2018 12:51:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.
 
 Back to SENS list
PRINT this article