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JSE RAFFINRAFINDRAFRESRAFISA
NFS
RAFRES/RAFISA/RAFIND/RAFFIN - Newfunds Erafi(TM) - Reduction of the basic annual
management fee of the ErafiRegistered portfolios under Newfunds (Pty) Limited
NEWFUNDS eRAFI(TM) SA RESOURCE 20 INDEX ETF
Share code: RAFRES ISIN: ZAE000135166
("eRAFI(TM) Resource 20 ETF" or "the ETF")
NewFunds eRAFI(TM) Overall SA Index ETF Portfolio
Share code: RAFISA ISIN: ZAE000117149
NEWFUNDS eRAFI(TM) SA INDUSTRIAL 25 INDEX ETF
Share code: RAFIND ISIN: ZAE000135182
NEWFUNDS eRAFI(TM)SA FINANCIAL 15 INDEX ETF
Share code: RAFFIN ISIN: ZAE000134979
A Portfolio in the NewFunds Collective Investment Scheme in Securities
registered as such in terms of the Collective Investment Schemes Control Act, 45
of 2002
Collectively ("eRAFI(TM) Portfolios)
REDUCTION OF THE BASIC ANNUAL MANAGEMENT FEE OF THE eRAFIRegistered PORTFOLIOS
UNDER NEWFUNDS (PTY) LIMITED
NewFunds (Pty) Limited ("NewFunds") have taken a considered business decision to
review the basic annual management fee ("basic fee") currently being levied on
the eRAFITM Portfolios.
The eRAFITM Portfolios currently charge a basic fee on a sliding scale depending
on the investment value, in addition to a performance fee equivalent of 20% of
the amount by which the eRAFITM Portfolios out-perform their benchmarks.
The intention of NewFunds with effect from June 1, 2010 is to charge our
investors a basic fee on a cost recovery basis taking into account only the
direct operational costs of the eRAFITM Portfolios, with the existing
performance fee structure remaining unchanged.
The basic fee currently charged is between 40 to 80 basis points per annum and
will be replaced with the costs of the lower direct operational costs.
This means that investors will positively benefit by paying lower basic fee i.e.
only for the direct operating costs incurred in respect of the portfolios and
NewFunds being rewarded only when the portfolio outperforms its benchmark.
These changes will better align the interests of the investors and bring the
charging methodology applicable to the eRAFITM Portfolios operationally in line
with the business strategy of NewFunds.
31 May 2010
Sponsor
J.P. Morgan Equities Limited
Date: 31/05/2010 08:00:05 Produced by the JSE SENS Department.
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