| Tue 14 Nov 2023, 17:00 | | FNBEQF - Distribution Finalisation Announcement |
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FNBEQF - Distribution Finalisation Announcement
FNB CIS Manco (RF) Proprietary Limited
FNB Global 1200 Equity FOF ETF (formerly known as Ashburton Global 1200 Equity FOF ETF)
A portfolio in the FNB Collective Investment Scheme in Securities Exchange Traded Funds (the "portfolio")
registered in terms of the Collective Investment Schemes Control Act, 45 of 2002
Share Code: FNBEQF
ISIN: ZAE000303145
("FNBGEQFOF")
DISTRIBUTION FINALISATION ANNOUNCEMENT
The manager and trustees (namely FNB CIS Manco (RF) Proprietary Limited and Standard Chartered
Bank) have resolved to make a distribution to the holders of the FNB Global 1200 Equity FOF ETF securities
for the quarter ended 31 October 2023.
The aggregate distribution will amount to 34.46194 cents per FNB Global 1200 Equity FOF ETF security
and is constituted as follows:
Alpha Code: FNBEQF Dividend *Interest *Interest Total
Distribution Source type Foreign Not SA listed Local Foreign
Net Distribution Reinvested No No No
Source of Funds (Country Code) Table 1 ZA US
Subject to Foreign Withholding tax Yes No No
Gross Foreign Rate (cents per unit) 35.31800 0.15940
Foreign Tax % withheld at source 3.03741%
Foreign Tax amount per unit 1.07275
DTA with Source Country
Foreign Tax Reclaim %
Portfolio/Management Cost
Interest Expense
Other costs
Gross ZA Distribution (Cents per unit) 34.24525 0.05730 0.15940 34.46194
***Applicable to non-exempt South African shareholders
Gross Local Rate (cents per unit) 34.24525 0.05730 0.15940
SA Withholding Tax %
SA Withholding Tax amount per unit
Local Net Rate 34.24525 0.05730 0.15940 34.46194
Table 1
Country ISO Code Split
Canada CA 3%
Australia AU 6%
United States US 42%
Europe EU 37%
Japan JP 11%
*Source of funds: various companies from around the world that are constituents of the S&P Global
1200 Index.
**Foreign dividends are not subject to SA Dividend Tax, as none of the shares are listed in South
Africa. South African tax residents may be subject to SA Income Tax on these dividends.
Notice is hereby given that the following dates are of importance regarding the distribution for the quarter
ended 31 October 2023 to the holders of the FNB Global 1200 Equity FOF ETF securities:
Last day to trade "cum" distribution: Tuesday, 21 November 2023
Securities trade "ex" distribution: Wednesday, 22 November 2023
Record date: Friday, 24 November 2023
Payment date: Monday, 27 November 2023
Creations or redemptions from the fund will not be allowed during the period from 21 November
2023 to 24 November 2023, both days inclusive.
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 comprises of any interest, it
will not be subject to WTI by virtue of the fact that it is listed debt instruments and/or bank debt.
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 ("CDSP") 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, to arrange for the
abovementioned documents to be submitted prior to payment of the distribution, if such
documents have not already been submitted.
Additional information:
The dividend distribution as outlined above is subject to the amendment to Dividends Tax that was
introduced with effect from 22 February 2017. The dividend, as defined in the Income Tax Act of 1962, is
payable from dividends accumulated in the fund. The South African Dividend Tax rate of 20% has been
applied to both local and foreign dividends.
There are 21,310,000 FNB Global 1200 Equity FOF ETF securities in issue. The total dividend amount
payable is R 7,343,839.98.
FNB Global 1200 Equity FOF ETF Income Tax number is 3356/058/17/6.
A copy of the ETF issue document can be found at:
https://www.fnb.co.za/share-investing/exchange-traded-funds.html
14 November 2023
Johannesburg
Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 14-11-2023 05:00:00
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