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The NewFunds Low Volatility Equity ETF ('the Portfolio') is aimed at providing an Investor with diversified exposure to 20 highly liquid constituent securities in the South African equity market that exhibit the lowest volatility as well as a low beta to the market in their performance by tracking the Absa Wits Risk-Controlled SA Low Volatility Index ('the Low Volatility Index'), where the constituent security's weights in the Low Volatility Index is determined by applying an equal risk contribution weighting scheme. The Low Volatility Index was created by Absa Bank Limited ('Absa') in collaboration with Wits University using their Findata@Wits® database. The ETF is total return in nature therefore all dividends and income received in the Portfolio is reinvested at each income distribution date.