ETN - Investec Swix40 TRI
 
Focus and Objective
The Swix40TRI ETN issued by Investec Bank will give the note holder exposure to the FTSE/JSE Shareholder Weighted Top40 Total Return Index with a zero total expense ratio.

The FTSE/JSE Shareholder Weighted Top40 Index ("Swix40 Index") is a capitalisation weighted index comprised of the 40 largest companies by market capitalisation. The weightings are then adjusted for both cross-holdings and strategic holdings. It provides diversified exposure to South African and international companies including global leaders such as BHP Billiton, SAB, Sasol, Anglo American and MTN. The Swix40 Index provides similar diversification as the Top40 Index, with a more local focus as well as a smaller exposure to resources.

The FTSE/JSE Shareholder Weighted Top40 Total Return Index ("Swix40TRI") is similar to the Swix40 Index in that both Indices track the price movements of the Top 40 companies on the exchange. The difference between the two indices arises in the treatment of the dividends. The Swix40TRI assumes that all distributions are reinvested across the index at the time of payment. Each week when a dividend is paid, the proceeds of these dividends are used to buy the full spectrum of constituents in their respective weightings of the index. The Swix40TRI should therefore, all else remaining the same, be expected to open each day at the same level that it closed the previous day. In contrast, the Swix40 Index expects to open lower on any day that a stock goes ex-dividend. Thus an investment in the Swix40TRI will receive the full benefit of the capital appreciation in the index as well as the dividends which are effectively reinvested.

 
Details
Formation Date: 17 Oct 2012
Sector: Exchange Traded Notes
JSE Code: SWXTRI
ISIN: ZAE000172557
Currency:
Issuer: Investec Bank Limited
Term (days):: 5 Years
Holdings: n/a
Unit Holders: n/a
Original Price: n/a
Pricing System: Forward
Minimum Lump Sum: n/a
Minimum Monthly: n/a

Fees
TER: n/a
Annual: %
Performance: n/a
 
Price
Performance to 22 Nov 2017
R1 000 Lumpsum (NAV-NAV Incl. Dividends)
Period Return Value(R) Inflation(R)
3 Months -24.22% 757.80 1 007.70
6 Months -21.96% 780.40 1 014.60
1 Year -14.37% 856.30 1 047.70
3 Years -3.74% 891.90 1 168.90
5 Years 5.78% 1 324.30 1 308.50
 
R100 per Month (NAV-NAV Incl. Dividends)
Period Return Value(R) Inflation(R)
3 Months -25.64% 251.59 303.78
6 Months -34.44% 490.36 612.50
1 Year -34.37% 998.46 1 280.07
3 Years -10.58% 3 068.95 4 559.13
5 Years -7.80% 4 949.81 8 972.48
* Values for periods greater than one year are annualised
 
Price
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