Distribution Announcement for The Quarter Ended 30 September 2019 - NEWFSA: 
NEWFUNDS NEWSA INDEX ETF PORTFOLIO
Share code: NEWFSA
ISIN: ZAE000104055

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)
("NewFunds")

DISTRIBUTION ANNOUNCEMENT FOR THE QUARTER ENDED 30 SEPTEMBER 2019
NewFunds has today finalised a distribution to holders of ETF securities ("investors") recorded as such in the register on Friday, 1 November 2019,
for the quarter ended 30 September 2019 as follows:

Alpha code          Dividend/         Foreign/         Gross                Subject to           *Withholding       Net
                    Interest          Local            Distribution         Withholding tax       Tax (%)           Distribution
                                                       (Cents per unit)     Yes/ No                                 (Cents per unit)

NEWFSA              Interest          Local                       0.25657 No                                                     0.25657
                    Dividend          Local                      37.34704 Yes                    20                             29.87763
                    Dividend          Foreign1                    3.95068 Yes                    20                              3.16054
                                                                 41.55429                                                       33.29475


Further details are listed below:
1
  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
2019:

Declaration/ Finalisation date                         Wednesday, 23 October 2019
Last day to trade                                      Tuesday, 29 October 2019
Ex distribution                                        Wednesday, 30 October 2019
Record date                                            Friday, 1 November 2019
Payment date                                           Monday, 4 November 2019

The distribution will be paid on Monday, 4 November 2019 to all securities holders recorded on the register on Friday, 1 Nove mber 2019.

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
*Investors should seek advice from their tax advisor on whether the tax rate shown is applicable to them.

** 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 Participan t ("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 distributi on, 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.


Additional information:
                       Number              Tax
                     of securities      reference
                       in issue          number

NEWFSA                  772 724        9004206224

23 October 2019

Sponsor
Vunani Corporate Finance

Date: 23/10/2019 08:00:00
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