ETN - Investec Top40 TRI
 
Focus and Objective
The Top40TRI ETN issued by Investec Bank will give the note holder exposure to the FTSE/JSE Africa Top40 Total Return Index with a zero total expense ratio.

The FTSE/JSE Africa Top40 Index ("Top40") is a capitalisation weighted index comprised of the 40 largest companies by market capitalisation. It provides diversifi ed exposure to South African and international companies including global leaders such as BHP Billiton, SAB, Sasol, Anglo American and MTN. In addition, the companies that comprise the Top40 Index derive more than one third of their revenues from outside South Africa, providing investors with diversifi cation benefi ts across both industry and geography.

The FTSE/JSE Africa Top40 Total Return Index ("Top40TRI") is similar to the Top40 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 Top40TRI 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 Top40TRI 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 Top40 Index expects to open lower on any day that a stock goes ex-dividend. Thus an investment in the Top40TRI will receive the full benefi t 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: TOPTRI
ISIN: ZAE000172540
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 16 Oct 2017
R1 000 Lumpsum (NAV-NAV Incl. Dividends)
Period Return Value(R) Inflation(R)
3 Months 11.23% 1 112.20 1 007.80
6 Months 12.80% 1 127.90 1 012.70
1 Year 19.62% 1 196.20 1 050.60
3 Years 10.57% 1 351.90 1 167.60
5 Years - - 1 315.10
 
R100 per Month (NAV-NAV Incl. Dividends)
Period Return Value(R) Inflation(R)
3 Months 7.94% 316.16 303.11
6 Months 15.17% 655.38 612.04
1 Year 24.31% 1 370.38 1 282.09
3 Years 10.76% 4 264.92 4 552.43
5 Years 5.09% 6 844.58 8 983.03
* Values for periods greater than one year are annualised
 
Price
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