STXMMT 201810230025A
Listing of the Satrix Momentum Portfolio on the Main Board of the JSE in the Exchange Traded Fund Sector
SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX MOMENTUM PORTFOLIO
JSE Code: STXMMT
ISIN: ZAE000264008
("Satrix Momentum" or the "Portfolio")
A portfolio in the Satrix Collective Investment Scheme, registered
as such in terms of the Collective Investment Schemes Control Act,
45 of 2002.
LISTING OF THE SATRIX MOMENTUM PORTFOLIO AND THE SCHEME REFERENCING
THE PROPRIETARY SATRIX MOMENTUM INDEX ON THE MAIN BOARD OF THE JSE
LIMITED (“JSE”) IN THE EXCHANGE TRADED FUND SECTOR.
This announcement is issued for information purposes only relating
to the listing of the portfolio on the JSE.
1. Introduction
Satrix Momentum Index participatory interests provide the investors
with exposure to listed securities which exhibit strong price and
earnings momentum behaviors, as defined the index calculation
methodology.
2. Listing approval
Approval for the listing of the participatory interest in the
portfolio was granted by the JSE on 19 October 2018.
3. Summary of the offer
3.1. Issuer
Satrix Momentum, a portfolio in the Satrix Collective
Investment Scheme in Securities, registered in terms of the
Collective Investment Schemes Control Act, No 45 of 2002.
3.2. ISIN: ZAE000264008
3.3. Share code: STXMMT
3.4. Long name: SATRIX MOMENTUM PORTFOLIO
3.5. Abbreviated name: SATRIXMMT
3.6. Index: PROPRIETARY SATRIX MOMENTUM INDEX
Factors are measurable characteristics of stocks that may in
some way explain future performance. A factor (or smart beta)
index is a rules-based construction of stocks that exhibit
particular attributes. Momentum is one such factor.
To capture the Momentum investment style and its effect,
Satrix has developed the proprietary Satrix Momentum Index. It
aims to capture the return of the equity market enhanced by
the momentum risk premium. This is achieved by constructing a
portfolio tilted toward stocks (or equities) that display
positive momentum characteristics and away from stocks showing
negative momentum characteristics. The index is rebalanced 8
times a year.
3.7. Distribution or accounting period
Quarterly distributions in three month periods ending on the
last day of March, June, September and December, or such other
date as may be determined by the manager in consultation with
the trustee from time to time and as announced on SENS.
3.8. The ramp up period
It is the period during which the manager will procure the
acquisition of baskets with the cash proceeds from the initial
offer and will be announced at the close of the offer.
4. Salient dates and times
4.1. Opening date of the initial offer at 09:00 on Wednesday, 24
October 2018
4.2. Closing date of the initial offer at 12:00 on Wednesday, 07
November 2018
4.3. Ramp up period in respect of cash subscriptions commences on
Friday, 09 November 2018
4.4. Settlement of Letters of allocation on Friday, 09 November
2018*
4.5. Publication of announcement on SENS as to the results of the
initial offer on Friday, 09 November 2018
4.6. Publication of conversion ratio on Thursday, 15 November 2018
4.7. Listing date at 9:00 on Friday, 16 November 2018
* One letter of allocation (“LA”) will be issued for every Rand
subscription against a subscriber’s CSDP or broker account
being debited with the Rand amount. Once the baskets of Index
constituents have been acquired, STRATE will convert the LAs
to Satrix securities in the CSDP accounts in terms of the
conversion ratios that will be published on SENS.
5. Copies of the supplement to the offering circular
A supplement to the offering circular detailing this offer is
available on the website of the Satrix Collective Investment Scheme
on www.satrix.co.za
23 October 2018
Satrix Managers (RF) Pty Limited
Sponsor
Vunani Corporate Finance
Date: 23/10/2018 10:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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