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NEWFUNDS COLLECTIVE INVESTMENT SCHEME - Interest Distribution And Re-Investment Announcement For The Month Ended 31 March 2021-MAPPSG

Release Date: 15/04/2021 08:00
Code(s): MAPPSG     PDF:  
Wrap Text
Interest Distribution And Re-Investment Announcement For The Month Ended 31 March 2021-MAPPSG

NEWFUNDS MAPPS GROWTH INDEX ETF PORTFOLIO
Share code: MAPPSG
ISIN: ZAE000153763


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 AND RE-INVESTMENT ANNOUNCEMENT FOR THE QUARTER ENDED 31 MARCH 2021
NewFunds has today finalised a distribution to holders of ETF securities ("investors") recorded as such in the register on Friday, 23 April 2021, for the quarter ended 31 March
2021 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)
MAPPSG                  Interest                                Local                         2,62677                 No                                          2,62677
                        Dividend                                Local                         11,05428                Yes                   20                    8,84342
                        Dividend                                       1                      2,80895                 Yes                   20                    2,24716
                                                                Foreign
                        Dividend                                Foreign² (CFR)***S64N         0,07795                 Yes                   5                     0,07164
                                                                                              16,56795                                                            13,78899

Further details are listed below:
¹Source of foreign dividends subject to SA dividend tax:
Netherlands                                                                                                                        15,62%
United Kingdom                                                                                                                     84,38%

²Source of foreign dividends subject to S64N rebate:
Switzerland                                                                                                                      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 31 March 2021:

Declaration/ Finalisation date                                                                Thursday, 15 April 2021
Last day to trade “cum” distribution                                                          Tuesday, 20 April 2021
Securities trade “ex” distribution                                                            Wednesday, 21 April 2021
Record date                                                                                   Friday, 23 April 2021
Payment date                                                                                  Monday, 26 April 2021

The distribution will be paid on Monday, 26 April 2021 to all securities holders recorded on the register on Friday, 23 April 2021.
In accordance with the investment policy of the portfolio, the distribution (net of dividend withholding tax as detailed above) will be re-invested on behalf of investors through the
purchase of securities comprising the Index in accordance with the calculation methodology of the total return version of this Index, thereby increasing the net asset value of
the portfolio and, proportionately, each ETF security.

The distribution (Net of dividend withholding tax) should:

- be added to the base cost of each ETF security for capital gains tax purposes; or
- where the ETF securities are held as trading stock be regarded as part of the cost of acquiring an ETF security.

Reinvestments into the portfolio still constitute a notional distribution even though it will not be paid in cash. Consequently, it forms part of investors' gross income as it is
subject to tax.
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.

2
Foreign Dividend (S64N) breakdown:
                                                                                       CFR
Gross Dividend                                                                     0,13789
Less Porfolio costs                                                               (0,01168)
Gross Distribution                                                                 0,12621


Foreign Withholding Tax on Gross dividend                                         (0,04826)
Amount Available for distribution                                                  0,07795
SA Dividend Withholding tax on gross distribution                                 (0,00631)
Net distributable                                                                  0,07164



***COMPAGNIE FINANCIERE RICHMONT SA (CFR) Distribution - 35% withholding tax has been deducted at source. 20% is reclaimable from the Swiss authorities as per SA-Swiss
DTA. An additional 5% SA withholding tax is to be deducted by the relevant regulated intermediaries from SA residents who are not exempt from SA dividend tax. As a result, the initial
withholding tax rate for non-exempt SA shareholders will be 40%.

*Investors should seek advice from their tax advisor on whether the tax rate shown is applicable to them.
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 Government debt, listed
debt instruments and/or bank debt.

 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:
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

MAPPSG                                1 806 698                         9020590221



15 April 2021

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Date: 15-04-2021 08:00:00
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