To view the PDF file, sign up for a MySharenet subscription.

NEWFUNDS COLLECTIVE INVESTMENT SCHEME - Distribution And Re-Investment Announcement For The Quarter Ended 31 March 2022 NFEMOD

Release Date: 14/04/2022 15:00
Code(s): NFEMOD     PDF:  
Wrap Text
Distribution And Re-Investment Announcement For The Quarter Ended 31 March 2022 – NFEMOD

NEWFUNDS VOLATILITY MANAGED MODERATE EQUITY EXCHANGE TRADED FUND PORTFOLIO
Share code: NFEMOD
ISIN: ZAE000254884

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 2022
NewFunds has today finalised a distribution to holders of ETF securities ("investors") recorded as such in the register on Friday, 29 April 2022, for the quarter ended
31 March 2022 as follows:

Alpha code: NFEMOD                                        Dividend                        Dividend                        *Interest                 Total
Distribution Source type                                  Local                           Foreign SA Listed               Local
Net Distribution Reinvested                               Yes                             Yes                             Yes
Source of Funds (Country Code)                            ZA                              Note 1                          ZA
Subject to Foreign Withholding tax                        No                              No                              No
Gross Foreign Rate (cents per unit)                                                       2,79474
Foreign Tax % withheld at source
Foreign Tax amount per unit
DTA with Source Country
Foreign Tax Reclaim %
Portfolio/Management Cost
Interest Expense
Other costs
Gross ZA Distribution (Cents per unit)                          2,77798                      2,79474                      0,37375                      5,94647
                                              ***Applicable to non-exempt South African shareholders
Gross Local Rate (cents per unit)                               2,77798                      2,79474                      0,37375
SA Withholding Tax %                                                20%                          20%
SA Withholding Tax amount per unit                              0,55560                      0,55895
Local Net Rate                                                  2,22238                      2,23579                      0,37375                      4,83192


Note 1
Source of foreign dividends subject to SA dividend tax:
Australia                                                                                                                                         66%
United Kingdom                                                                                                                                    34%

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 2022:
Declaration/ Finalisation date                                                                             Thursday, 14 April 2022
Last day to trade “cum” distribution                                                                       Monday, 25 April 2022
Securities trade “ex” distribution                                                                         Tuesday, 26 April 2022
Record date                                                                                                Friday, 29 April 2022
Payment date                                                                                               Tuesday, 03 May 2022

The distribution will be paid on Monday, 25 April 2022 to all securities holders recorded on the register on Friday, 29 April 2022.

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.

*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
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

NFEMOD                                          5 564 374                   3709136174

Thursday, 14 April 2022

Sponsor
Vunani Sponsors

Date: 14-04-2022 03:00:00
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.

Share This Story