The mandate of the Satrix Swix Top 40 ETF ("Satrix Swix ") is to track, as closely as possible, the value of the FTSE/JSE Swix Top 40 index (J400). Satrix Swix is an index tracking fund, registered as a Collective Investment Scheme, and is also listed on the Johannesburg Stock Exchange as an Exchange Traded Fund.
Satrix Swix provides investors with the price performance of the FTSE/JSE Swix Top 40 index (J400) as well as pays out, on a quarterly basis, all dividends received from companies comprising the index, net of cost. In order to reduce costs and minimize tracking error, Satrix Swix engages in scrip lending activities with SIM and Investec. Manufactured (taxable) dividends could arise from such transactions.
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