We have decided to make the following amendment to the terms and conditions of the NEXT FUNDS FTSE/JSE Africa Top40 Linked Exchange Traded Fund.

The number of units outstanding below which the Management Company can carry out an early termination is reduced from "below 4,000,000" to "below 2,000,000" , as shown in the appendix, which is displayed under the Fund's terms and conditions. This amendment is effective as of September 25, 2014.