The Satrix SWIX TOP 40 is an Exchange Traded Fund, which listed on the JSE on 10 April 2006. It is also registered as a Collective Investment Scheme. The Satrix SWIX TOP 40 tracks the FTSE/JSE Swix Top 40 index, which adjusts the Top 40 index to downweight the foreign holdings of the top 40 constituent companies. The impact of the shareholder adjusted Top 40 index is to reduce the volatility of this index compared with the conventional FTSE/JSE Top 40 index. The Satrix SWIX TOP 40 replicates the performance of the FTSE/JSE Swix Top 40 index, as closely as possible, by holding the index constituent companies in the exact weighting they comprise of the index. All dividends received from shares in the Swix Top 40 index are paid out to investors on a quarterly basis - net of costs.