Distribution and Re-Investment Announcement for the Quarter Ended 30 June 2021 - MAPPSP
NEWFUNDS MAPPS PROTECT SA INDEX ETF PORTFOLIO
Share code: MAPPSP
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 30 JUNE 2021
NewFunds has today finalised a distribution to holders of ETF securities ("investors") recorded as such in the register on Friday, 23 July 2021, for the quarter ended 30
June 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)
MAPPSP Interest Local 27,63975 No 27,63975
Dividend Local 6,36768 Yes 20 5,09414
Dividend Foreign1 0,29801 Yes 20 0,23841
Dividend Foreign² (ANH)***S64N 0,06325 Yes 5 0,05856
Dividend REITs** 0,58292 Yes 20 0,46634
Further details are listed below:
¹Source of foreign dividends subject to SA dividend tax:
United Kingdom 100,00%
²Source of foreign dividends subject to S64N rebate:
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 June 2021:
Declaration/ Finalisation date Thursday, 15 July 2021
Last day to trade “cum” distribution Tuesday, 20 July 2021
Securities trade “ex” distribution Wednesday, 21 July 2021
Record date Friday, 23 July 2021
Payment date Monday, 26 July 2021
The distribution will be paid on Monday, 26 July 2021 to all securities holders recorded on the register on Friday, 23 July 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.
Foreign Dividend (S64N) breakdown:
Gross Dividend 0,10161
Less Porfolio costs (0,00788)
Gross Distribution 0,09373
Foreign Withholding Tax on Gross dividend (0,03048)
Amount Available for distribution 0,06325
SA Dividend Withholding tax on gross distribution (0,00469)
Net distributable 0,05856
***Anheuser-Busch InBev SA/NV (ANH) distribution - 30% withholding tax has been deducted at source. 15% is reclaimable from the Belgian authorities as per SA-Belgium
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 35%.
*Investors should seek advice from their tax advisor on whether the tax 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:
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
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
of securities reference
in issue number
MAPPSP 1 108 764 9399122176
15 July 2021
Date: 15-07-2021 08:30:00
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