YOUR ASSET MANAGEMENT COMPANY Knowledgeable Independent Focused The AtonRâ Fund A Journey Into The Future JUNE 2020 www.atonra.ch • sales@atonra.ch • +41 22 906 16 16 • 7 rue de la Croix d'Or, 1204 Geneva, Switzerland 1 JANUARY 2020
Atonrâ At A Glance Annexes: Thematic Thematic Investing The AtonRâ Fund Portfolios Data 3 Important Information 10 Thematic Investment 15 Exposure To The Most 20 AI & Robotics Process Promising Themes 4 22 A Private Equity Approach Bionics To Listed Investments 11 Step 1 – Fundamental 16 Fund Characteristics 24 Biotechnology Research 5 History 17 Track Record and Statistics 26 Fintech 12 Step 2 – Stock Selection 6 A Long Track Record On 19 Portfolio Overview 28 Mobile Payments Sharply Focused Themes 13 Step 3 – Thematic Bucket Construction 30 Security & Space 7 A Dedicated And Complementary Team 14 Step 4 – Risk Management 32 Sustainable Future 8 The Discovery Of Themes 9 Our Research Know-How 2 JUNE 2020
Important Information About AtonRâ Partners AtonRâ Partners is an asset management company, founded in 2004 with AtonRâ Partners is a conviction-driven asset manager combining industrial head offjce in Geneva, incorporated under Swiss law, duly approved by the and scientifjc research with fjnancial analysis. AtonRâ Partners focuses on Swiss Financial Market Supervisory Authority (FINMA) under the Swiss Col- long-term trends in the healthcare, renewable energy and technology sectors, lective Investment Schemes Act. powerful enough to be turned into thematic equity portfolios. Disclaimer This document has been produced by the organizational unit responsible for investment research The opinions herein do not consider individual clients’ circumstances, objectives, or needs. Prior (Research unit) and sales (Sales unit) of AtonRâ Partners and sent to you by the company sales to entering into a transaction you should consult with your own legal, regulatory, tax, fjnancial and representatives. Although AtonRâ Partners SA believes that the information provided in this doc- accounting advisers to the extent you deem necessary to make your own investment decisions. ument is based on reliable sources, it cannot assume responsibility for the quality, correctness, timeliness or completeness of the information contained in this document. The information contained in this document is as of the date hereof only and is subject to change without notice. Any prices are indicative. Past performance is not indicative or a guarantee of The information contained in this document is sent to you by way of information and cannot be future results. Investment losses may occur, and investors could lose some or all of their invest- divulged to a third party without the prior consent of AtonRâ Partners. While all reasonable effort ment. Individual clients’ fjnancial objectives are not considered. has been made to ensure that the information contained is not untrue or misleading at the time of publication, no representation is made as to its accuracy or completeness and it should not Any material provided to you is intended only for discussion purposes and is not intended as an be relied upon as such. offer or solicitation with respect to the purchase or sale of any security and should not be relied upon by you in evaluating the merits of investing in any securities. The products described in this This document does not replace a legal document and notably the fund prospectus or KIID relat- document may not be directly or indirectly offered or sold in the United States of America or to ing to any specifjc fjnancial instrument herein referred, which may be obtained upon request free U.S. Persons. of charge from AtonRâ Partners. 3 JUNE 2020
ATONRÂ AT A GLANCE A Private Equity Approach To Listed Investments DELIVERING EXCELLENCE E KNOWLEDGE IS POWER C K N N E O L W L E L A pioneer in independent thematic C E A team of fjnancial professionals X D E G equity research and investments. and scientists ensure that G E N First to launch investment I S knowledge acquired throughout I R P themes on Artifjcial Intelligence E many years of fundamental research O V W & Robotics, Bionics, Mobile I and fjnancial analysis is constantly L E E Payments. The fjrst asset manager expanded and capitalized upon. R D integrating non-fjnancial scientists to the investment team. DRIVEN BY PASSION TIME IS INVESTORS' ALLY T I M N Technology changes the world Passion is the fuel that keeps O E I I S and fosters growth. Yet it the engine of innovation running S S I A N and innovation is the key to takes time to turn it into capital P V Y E technological and scientifjc appreciation. B S T N O E progress. R V S I R ' A D L L Y 4 JUNE 2020
ATONRÂ AT A GLANCE History 2004 2014 2018 2019–2020 The Future... EQUITY RESEARCH AS SWITCH TO ASSET CONTINUOUS INNOVATION LATEST DEVELOPMENTS WHERE DO WE WANT TO GO ? THE FOUNDATION OF OUR MANAGEMENT • FINMA license. • Leveraging our • Strengthening APPROACH • Fundamental research of Academic • UCITS umbrella fund. fundamental expertise • Thematic research turned into Thematic collaboration. in the private equity on growth-oriented Investments. • Technology Advisory world. themes. • Launch of AMC’s Committee. • Launch of additional • Intellectual capital (actively managed themes. • Expansion of the and critical certifjcates). workforce. understanding proved ...keep innovating. and recognized. $800Mn $750Mn 800Mn $550Mn 600Mn AUM $350Mn 400Mn 200Mn $50Mn $100Mn $10Mn 0 2014 2015 2016 2017 2018 2019 June 2020 5 JUNE 2020
ATONRÂ AT A GLANCE A Long Track Record On Sharply Focused Themes Biotechnology Security & Space Fintech The next generation of Security undertakes its digital Mobile payments opening drugs to revolutionize transformation to enable and up the road for more biotechnology forever. secure progress. effjcient, accessible, and Space is the next frontier. cheaper fjnancial services. 2014 2015 2017 2018 What's next? APRIL OCTOBER JANUARY OCTOBER 2015 2016 2017 MARCH JANUARY MAY Mobile Payments, Artifjcial Intelligence Bionics Sustainable Future Mobile payments to rise Breakthroughs in hardware Living better not necessarily Grid-parity is the long-term coupled with massive data longer. Technology opens needed catalyst to speed up sharply as consumers are the key fundamentals for new ways to tackle human the switch from fossils to move to smartphones for their daily purchases. AI to become ubiquitous in disabilities and physical renewable energies. every industry. disorders. 6 JUNE 2020
ATONRÂ AT A GLANCE A Dedicated And Complementary Team PORTFOLIO SCIENTIFIC MANAGEMENT / RESEARCH & FUNDAMENTAL ANALYSIS ANALYSIS Christoph Stefano Rodella Christophe Claudia Christopher Katherine Sinhart CEO / CIO Magnin Collin Wittlinger Taglieri Maad Joachim Mark Kevin Sjoerd Toviah Osta Nahmani Temnikov Decoster van Steenkiste Moldwin COMPLIANCE CFO MULTIMEDIA DESIGN BUSINESS DEVELOPMENT & RISK MANAGEMENT Christian Dina Antoine David Patrice Małgorzata Wolf Fausto Walter Wigger Dussol Miklaszewska 7 JUNE 2020
ATONRÂ AT A GLANCE The Discovery Of Themes Searching, identifying and selecting themes with an outsized impact on the global economy. 1. The addressable market 2. The growth factor must must be large enough to be at least 3 times global have an impact on global GDP growth. GDP over 5 to 10 years. 4. The three following cycles must be present in each theme: 3. The theme must be large • Capital infrastructure enough to overcome cyclical phase. swings. • Application phase. • Commercialization phase. 8 JUNE 2020
ATONRÂ AT A GLANCE Our Research Know-How Scouting / Idea Generation Tech compass Weekly meeting Each scientist is responsible for Based on the research generated, Our Research team gathers and shares scouting new technologies and trends our engineers maintain an updated the latest fjndings on a weekly basis in in her or his fjeld of competence. compass in order to keep the right tech order to assess and identify new trends track. Portfolio Managers & Financial and technologies. Analysts keep track of the fjnancial and revenue-generating potential. Deep Dive Reporting / Follow up Knowledge Transfer When a topic is judged as interesting Every scientist is responsible for the Our Sales team organizes events and investable by Portfolio Managers, generation of research documents that (client visits, conference calls, thematic the scientist responsible for that are made available internally to build up breakfast presentations) that help thematic presents a detailed analysis a broad and comprehensive knowledge. investors understand specifjc topics of and is questioned and challenged. AtonRâ’s fundamental research. 9 JUNE 2020
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