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Notification: Amendment to the accounting periods of the STXGBD, STXGLP and STXIFR
SATRIX COLLECTIVE INVESTMENT SCHEME
SATRIX GLOBAL AGGREGATE BOND FEEDER PORTFOLIO
JSE code STXGBD
ISIN Code ZAE000289526
SATRIX GLOBAL PROPERTY FEEDER ETF
JSE Code: STXGLP
ISIN: ZAE000354932
SATRIX GLOBAL INFRASTRUCTURE ETF
JSE code: STXIFR
ISIN code: ZAE000301586
Portfolios in the Satrix Collective Investment Scheme in Securities, registered as such in
terms of the Collective Investment Schemes Control Act, 45 of 2002
Notification: Amendment to the accounting periods of the Satrix Global Aggregate
Bond Feeder Portfolio, Satrix Global Property Feeder ETF and Satrix Global
Infrastructure Feeder ETF, portfolios registered under Satrix Collective Investment
Scheme in Securities.
The purpose of this notification is to inform you of the amendment in accounting periods
of the Satrix Global Aggregate Bond Feeder Portfolio, Satrix Global Property Feeder ETF
and Satrix Global Infrastructure Feeder ETF, portfolios registered under Satrix Collective
Investment Scheme in Securities.
The current accounting periods of the above-mentioned portfolios ends on the last day of
March, June, September and December, which does not align with the distribution
payment dates of the underlying funds. Consequently, the current distribution frequencies
result in a degree of cash drag within the portfolios, as income is retained for longer than
necessary before distribution. In addition, changes in foreign exchange rates may give
rise to profits or losses, which can also affect distribution amounts.
To improve investor returns and portfolio efficiency, we propose changing the accounting
periods from quarterly to monthly so that the portfolios' distributions can align with the
underlying funds' distribution payment dates. The portfolios will, however, only make
distributions for those accounting periods in which a distribution is received from the
underlying fund, and in any other accounting periods a nil distribution will be declared.
In terms of section 98(2)(b) of the Collective Investment Schemes Control Act, 2002
(CISCA), the FSCA has dispense with the requirement to obtain the consent of the
majority in value investors for the proposed change in the accounting periods of the above-
mentioned portfolios.
i. The amendment is required only to enable the provisions of the deed to be given
effect more conveniently or economically.
The amendment to the accounting periods streamlines operational processes by
aligning the timing of income distributions with that of the underlying funds. This
adjustment reduces unnecessary retention of income within the portfolios,
thereby minimising cash drag and enabling a more efficient and cost-effective
implementation of the deed's provisions. The change is, therefore, both
administratively convenient and economically beneficial, facilitating the effective
operation of the fund in line with its founding documents.
ii. The amendment will benefit the investors
Investors will benefit from the change as it will reduce the period during which
income is held in cash, thereby decreasing cash drag and enhancing the
portfolios' tracking and overall efficiency. Additionally, investors will receive
income distributions in a timelier manner, supporting improved outcomes without
any reduction in entitlement or increase in costs.
iii. The amendment will not prejudice the interests of investors
The amendment does not alter or diminish investor rights or economic exposure
in any way. Investors remain fully entitled to all income earned by the portfolios;
the only change is the timing of distributions. There is no impact on the portfolios'
investment policies, objectives, or risk profiles, and no increase in fees or charges.
The change is also not expected to prejudice any investors from a tax perspective.
Consequently, there is no prejudice to the interests of investors.
iv. The amendment does not amend the fundamental provisions or objects of the
deed
The adjustment is strictly operational and relates only to the timing of income
distributions. It does not affect the fundamental provisions, investment objectives,
or any core elements of the deed, nor does it change the portfolios' permitted
instruments, fee structure, or valuation methodology.
v. The amendment does not release the trustee, custodian or the manager from any
responsibility to the investors.
The change does not alter or diminish the responsibilities or duties of the trustee,
custodian, or manager towards investors. All parties remain fully accountable
under the deed and applicable regulations, ensuring ongoing protection of
investor interests.
Effective Date of Amendments
The effective date of the amendments to the portfolios' accounting period will be 27 July
2026.
Should you require further information on the proposed change, please contact Satrix
Managers via email to info@satrix.co.za.
JSE Sponsor
Vunani Sponsors
09 June 2026
Date: 09-06-2026 12:05:00
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