Die Zukunft elektrisiert:
Wie Innovationen im Transportwesen unser Leben verändern werden
January 2021
George Saffaye, Global Investment Strategist, Mellon
Investment Focus
A new era of smart mobility, particularly in the areas
of connectivity, autonomous vehicles, sharing and
electrification
Investment Focus
Distributed ledger technology (otherwise known as
blockchain) generates new revenue streams or
reduces costs
Investment Focus
New treatments for chronic diseases through gene
therapy, gene editing, gene modulation and
virus-based cures, as well as the supporting companies
that help fuel the development of these drugs
Theme Catalysts
● Technology (5G, etc.)
● Regulatory (Road Safety, etc.)
● Environmental (Co2 Emissions, etc.)
● Consumer (Demographics, etc.)
Theme Catalysts
● Digital Transformation
● Digital Security
● Digital Currency Adoption
Theme Catalysts
● Scientific advancements post mapping of human
genome
● Expanding pipeline of new therapies submitted to
U.S. FDA.
● Rising healthcare costs driving search for
offsetting solutions and accessibility
Inception Date:
February 2018
Inception Date:
March 2019
Inception Date:
December 2020
SDG Flags:
7, 9,11,12,13,15
SDG Flags:
8, 9, 12, 16
SDG Flags:
3, 9, 10
Lipper Sector:
Lipper Global - Equity Sector
Consumer Discretionary
Lipper Sector:
Lipper Global - Equity Sector
Consumer Discretionary
Lipper Sector:
Lipper Global - Equity Sector
Consumer Discretionary
Investing in Innovation
The future of society is the investment opportunities of today:
The Mellon Innovation Series of strategies broadly encompass how we move, transact, and treat the
problems and issues of society, demanding innovative solutions offered or supported by today’s forward thinking companies.
2
Investment Managers are appointed by BNY Mellon Investment Management EMEA Limited (BNYMIM EMEA), BNY Mellon Fund Management (Luxembourg) S.A. (BNY MFML) or affiliated fund operating companies to undertake portfolio management activities in relation to contracts for products and services entered into by clients with BNYMIM EMEA, BNY MFML or the BNY Mellon funds.
BLOCKCHAIN INNOVATION
MOBILITY INNOVATION
SMART CURES
What is Mobility Innovation?
Mobility Innovation
The disruptive, transformational shift in how we
use
,
power
,
and
control
all means of mobility,
profoundly impacting businesses, governments,
and consumers by materially altering interactions
Where can ESG lead us
4
SOLUTIONS
STATUS QUO
HACKING
LACK OF ACCESS
WASTE
SAFETY
EMISSIONS
CONGESTION
CYBER SECURITY
CORPORATE
CITIZENSHIP
TECHNOLOGY
ADVANCEMENTS
COMPANY CULTURE
REGULATORY
TAILWINDS
STAKEHOLDER
MANAGEMENT
The four key drivers of Mobility Innovation
CASE
Sources: Bottom left: McKinsey Center for Future Mobility as at September 2017. Bottom right: Bloomberg New Energy Finance as at 21 May 2018.
Connectivity
Autonomous
Sharing
Electrification
EVs To Garner Half The Global Auto Market By 2040
Cloud StorageSoftware Platforms
Advanced Mapping Systems
High-resolution Big Data Analytics
High Speed Data Towers V2X Communication Connected Road Infrastructure Apps and Services Long-Range
Radar LIDAR Camera
Short/Medium Range Ultrasound Surround View Park Assistance/ Surround View Blind Spot Detection Park Assist Traffic Sign Recognition Emergency Breaking Pedestrian Detection Collision Avoidance Adaptive Cruise Control Surround View Lane Departure Warning Cross Traffic Alert Park Assist 0 100 200 2015 2020 2025 2030 2035 2040 M illi o n Car s P e r Y e a r
A highly active theme which will continue to evolve
CASE industry acronym is a roadmap… but it does not stand still. It’s accelerating!
6
C
A
E
S
CYBER
CONNECTIVITY
AUTONOMOUS
ADAPTIVE
Electric Vehicle Demand Comes Back As The Covid-19 Impact Fades
Source: CAAM, CITICS Research as of July 30, 2020 . NEV is Neighborhood Electric Vehicle. See Additional Information in Disclosure Statements. [27406]
2018
2019
2020
28 26
23
54
30
36 34
40
10
20
27
21
25 25
31
20
27
14
18 17
40 40
31
56
74
81
8
-49
-14
48
110
-60
-40
-20
0
20
40
60
80
100
120
1
2
3
4
5
6
7
8
9
10 11 12
1
2
3
4
5
6
7
8
9
10 11 12
1
2
3
4
5
6
7
%
GOVERNMENT SUBSIDIES &
INCENTIVES
SUSTAINABLE URBAN VEHICLE
Can refuel at home/anywhere; Cheaper to refuel; Quiet/Low
noise pollution; HOV Lanes; Optimal for Short Distances
SIGNIFICANTLY FEWER
MOVING PARTS
ZERO
EMISSIONS
ICE to EVs: Changing Before Our Eyes
Why We Believe Electric Vehicles are set for exponential growth
8
ICE is Internal Combustion Engine. See Additional Information in Disclosure Statements. [27406]
DRIVING DYNAMICS
Instant Torque; Faster Acceleration;
Smooth, silent ride
LOWER
OPERATIONAL COSTS
Powering New Forms of Mobility
Going beyond the car…
See Additional Information in Disclosure Statements. [26740]
AIR
BICYCLE
MOTORCYLE
SCOOTER
SEMI-TRUCK
DRONE
TRAIN
BUS
Industry breakdown (%)
Top 10 holdings
BNY Mellon Mobility Innovation Fund
Company
Country
Industry
Fund (%)
ANSYS, Inc.
United States
Software
4.3
Tesla Inc
United States
Automobiles
4.0
Samsung SDI Co., Ltd
South Korea
Electronic Equipment
Instruments & Components
3.4
MediaTek Inc
Taiwan
Semiconductors &
Semiconductor Equipment
3.2
Splunk Inc.
United States
Software
3.1
Twilio, Inc. Class A
United States
IT Services
3.1
Alphabet Inc. Class A
United States
Interactive Media &
Services
2.9
STMicroelectronics
NV
Switzerland
Semiconductors &
Semiconductor Equipment
2.8
Aptiv PLC
United States
Auto Components
2.7
Yandex NV Class A
Russia
Interactive Media &
Services
2.5
Total
32.1
Source: Mellon, excludes cash.
Portfolio structure as at 31 December 2020
0.8
1.0
1.3
1.5
2.0
2.2
2.6
3.1
3.4
4.0
5.3
9.1
9.8
9.9
10.0
11.2
22.9
Aerospace & Defense
Road & Rail
Electric Utilities
Metals & Mining
Communications Equipment
Chemicals
Internet & Direct Marketing Retail
IT Services
Machinery
Industrial Conglomerates
Interactive Media & Services
Software
Automobiles
Auto Components
Electrical Equipment
Electronic Equipment Instruments &…
Portfolio characteristics
Region breakdown (%)
BNY Mellon Mobility Innovation Fund
Source: Mellon, excludes cash.
Portfolio structure as at 31 December 2020
12
North
America
59.1
Asia Pacific
21.3
Europe
17.2
Russia
2.5
0.2
35.2
52.8
11.8
2.3
20.5
12.2
65.1
< US$2bn
US$2bn
-US$10bn
US$10bn
-US$25bn
> US$25bn
Fund
MSCI AC World Mid Cap Index
Market capitalisation breakdown (%)
Fund
MSCI AC World
Mid Cap Index
Price-to-earnings using FY2 estimate (x)
26.3
18.3
Estimated 3-5 year EPS growth (%)
43.6
13.4
Average market capitalisation (US$bn)
102.3
14.6
BNY Mellon Mobility Innovation Fund, USD W (Acc.)
Performance as at 31 December 2020
Source: Lipper. Fund performance calculated as total return, based on net asset value, including charges, but excluding initial charge, income reinvested gross of tax, expressed in share class currency. The impact of the initial charge, which may be up to 5%, can be material on the performance of your investment. Performance figures including the initial charge are available upon request. Please note that sector returns are likely to vary, depending on the timing of data extraction from Lipper.
• Mobility innovation continues to evolve
• Covid-19 is accelerating adoption trends
• EVs are nearing an inflection point due to declining battery costs
• Our opportunity set is expanding beyond the car
Mobility Innovation Equity Strategy
See Additional Information in Disclosure Statements.[27406]
Index Description(s)
Source: MSCI. See Additional Information in Disclosure Statements.
MSCI ACWI Mid Cap Index
The MSCI ACWI Mid Cap Index captures mid cap representation across 23 Developed Markets (DM) and 26 Emerging Markets (EM) countries. With
1,310 constituents, the index covers approximately 15% of the free float-adjusted market capitalization in each country.
Mobility Innovation Custom
Index
The Mobility Innovation Custom Index is a custom index of select Mid Cap GICS industries for companies across 23 Developed Markets and 23
Emerging Markets countries that have been identified to be included in the Mobility Innovation Equity strategy’s investable universe based on static
criteria.
Key investment risks
Performance
Investment objective and benchmark
BNY Mellon Mobility Innovation Fund
Objective:
To achieve long-term capital growth by primarily gaining exposure to companies located
worldwide that are focused on innovation in transportation and related technologies.
Benchmark:
The Fund will measure its performance against the MSCI AC World Mid Cap NR Index
(the "Benchmark").
The Fund is actively managed, which means the Investment Manager has absolute discretion to invest
outside the Benchmark subject to the investment objective and policies disclosed in the Prospectus.
While the Fund's holdings may include constituents of the Benchmark, the selection of investments and
their weightings in the portfolio are not influenced by the Benchmark. The investment strategy does not
restrict the extent to which the Investment Manager may deviate from the Benchmark.
Investment objective, annual performance and key risks
18
•
Objective/Performance Risk: There is no guarantee that the Fund will achieve its objectives.
•
Currency Risk: This Fund invests in international markets which means it is exposed to
changes in currency rates which could affect the value of the Fund.
•
Derivatives Risk: Derivatives are highly sensitive to changes in the value of the asset from
which their value is derived. A small movement in the value of the underlying asset can cause
a large movement in the value of the derivative. This can increase the sizes of losses and
gains, causing the value of your investment to fluctuate. When using derivatives, the Fund
can lose significantly more than the amount it has invested in derivatives.
•
Emerging Markets Risk: Emerging Markets have additional risks due to less-developed market
practices.
•
Market Capitalisation Risk: Investments in the securities of small to medium-sized companies
(by market capitalisation) may be riskier and less liquid (i.e. harder to sell) than large
companies. This means that their share prices may have greater fluctuations.
•
Counterparty Risk: The insolvency of any institutions providing services such as custody of
assets or acting as a counterparty to derivatives or other contractual arrangements, may
expose the Fund to financial loss.
•
Mobility Innovation Companies Risk: The value of investments in Mobility Innovation
Companies may be negatively impacted by changes in regulation and are dependent upon
consumer and business acceptance of new technologies. The Fund's value may be more
subject to market fluctuations than if it invested in a broader range of economic sectors.
•
Share Class Currency Risk: Share classes may be denominated in a different currency from
the base currency of the Fund. Changes in the exchange rate between the share class
currency and the base currency may affect the value of your investment.
•
Share Class Hedging Risk: The hedging strategy is used to reduce the impact of exchange
rate movements between the share class currency and the base currency. It may not
completely achieve this due to factors such as interest rate differentials.
Past performance is not a guide to future performance.
The value of investments can fall. Investors may not get back the amount invested.
Nov-15 to Nov-16 to Nov-17 to Nov-18 to Nov-19 toNov-16 Nov-17 Nov-18 Nov-19 Nov-20
BNY Mellon Mobility Innovation Fund - - - 15.10 48.58
Benchmark 3.80 23.36 -4.79 13.87 12.39
Calendar year returns (%) 2015 2016 2017 2018 2019
BNY Mellon Mobility Innovation Fund - - - - 28.88
Benchmark -1.61 7.23 24.47 -13.26 26.00
12-month returns (%)
Source: Lipper IM as at 30 November 2020. Fund performance for the USD W (Acc.) share class calculated as total return, based on net asset value, including charges, but excluding initial charge, income reinvested gross of tax, expressed in share class currency. The impact of the initial charge, which may be up to 5%, can be material on the performance of your investment. Performance figures including the initial charge are available upon request.
Important information
For Professional Clients only. In Switzerland and Chile, for Qualified Investors only. In Mexico, Peru and Uruguay, for Institutional investors only. In Israel, for Sophisticated Investors only. This is a financial promotion and is not investment advice. For a full list of risks applicable to this fund, please refer to the Prospectus or other offering documents. Before subscribing, investors should read the most recent Prospectus and KIID for each fund in which they want to invest. Go to www.bnymellonim.com. The Prospectus and KIID are available in English and in an official language of the jurisdictions in which the Fund is registered for public sale.In Chile, Mexico, Peru and Uruguay, these documents can be requested by sending an email to [email protected]. In Israel, these documents can be requested by sending an email to [email protected].
Portfolio holdings are subject to change, for information only and are not investment recommendations. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and its subsidiaries.
AUM / OUM for the following firms may include assets managed by them as non-discretionary investment manager for, or by the individual firms’ officers as dual officers or employees of, The Bank of New York Mellon: BNY Mellon Investment Adviser, Inc. and its Dreyfus Cash Investment Strategies division. AUM for Mellon Investments Corporation includes discretionary and non-discretionary assets, the notional value of overlay strategies, and assets managed by investment personnel acting in their capacity as officers of affiliated entities. Total AUM includes BNY Mellon Wealth Management and external data. AUM managed by Newton Investment Management Limited (Newton) may include assets of wrap fee account(s) for which Newton provides sub-advisory services to the primary manager of the wrap program. Insight investment's assets under management are represented by the value of cash securities and other economic exposure managed for clients.
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The Fund is a sub-fund of BNY Mellon Global Funds, plc, an open-ended investment company with variable capital (ICVC), with segregated liability between sub-funds. Incorporated with limited liability under the laws of Ireland and authorised by the Central Bank of Ireland as a UCITS Fund. The Management Company is BNY Mellon Fund Management (Luxembourg) S.A. (BNY MFML), regulated by the Commission de Surveillance du Secteur Financier (CSSF). Registered address: 2-4 Rue Eugène Ruppert L-2453 Luxembourg.
In Austria, the current Prospectus and the Key Investor Information Document are available free of charge from Raiffeisen Zentralbank Österreich Aktiengesellschaft, Am Stadtpark 9, A-1030 Vienna.
In Belgium, the KIID, Prospectus, articles of association and latest annual report are freely available upon request to from the paying agent : JP Morgan Chase Bank, 1 Boulevard du Roi Albert II, B-1210 Bruxelles, Belgium. The Prospectus, KIIDs, articles of association, annual and half-yearly financial reports are available in French.
EN CHILE, ESTA OFERTA PRIVADA SE INICIA EL DÍA 01/07/2020 Y SE ACOGE A LAS DISPOSICIONES DE LA NORMA DE CARÁCTER GENERAL Nº 336 DE LA SUPERINTENDENCIA DE VALORES Y SEGUROS; ESTA OFERTA VERSA SOBRE VALORES NO INSCRITOS EN EL REGISTRO DE VALORES O EN EL REGISTRO DE VALORES EXTRANJEROS QUE LLEVA LA SUPERINTENDENCIA DE VALORES Y SEGUROS, POR LO QUE TALES VALORES NO ESTÁN SUJETOS A LA FISCALIZACIÓN DE ÉSTA; POR TRATAR DE VALORES NO INSCRITOS NO EXISTE LA OBLIGACIÓN POR PARTE DEL EMISOR DE ENTREGAR EN CHILE INFORMACIÓN PÚBLICA RESPECTO DE LOS VALORES SOBRE LOS QUE VERSA ESTA OFERTA; ESTOS VALORES NO PODRÁN SER OBJETO DE OFERTA PÚBLICA MIENTRAS NO SEAN INSCRITOS EN EL REGISTRO DE VALORES CORRESPONDIENTE.
In France, the KIID, Prospectus, articles and latest annual report are freely available upon request to the centralising agent: BNP Paribas Securities Services, 3 rue d'Antin, 75002 Paris, tél: 00 33 1 42 98 10 00.
In Germany, the prospectus is available from BNY Mellon Fund Management (Luxembourg) S.A. (BNY MFML), German branch, MesseTurm Friedrich-Ebert-Anlage 49, 60308 Frankfurt am Main, Germany.
In Spain, BNY Mellon Global Funds is registered with the CNMV, Registration No. 267.
In Switzerland, the Company is established as an open-ended umbrella type investment company under Irish law and the Sub-funds are authorised by FINMA for distribution to non-qualified investors in or from Switzerland. The Swiss representative is Carnegie Fund Services S.A., 11, rue du Général-Dufour, 1204 Geneva. The Swiss paying agent is Banque Cantonale de Genève, 17, quai de l’Ile, 1204 Geneva. Investors in Switzerland can obtain the documents of the Company, such as the Prospectus, the KIIDs, the Memorandum and Articles of Association, the semi-annual and annual reports, each in their latest version as approved by FINMA, in German, and further information free of charge from the Swiss representative.
Important information
20
Document ID 222504. Exp 20 Apr 2021.
In Israel, this document has not been approved by the Israel Securities Authority and will only be distributed to Israeli residents in a manner that will not constitute "an offer to the public" under sections 15 and 15a of the Israel Securities Law, 5728-1968 ("the Securities Law") or section 25 of the Joint Investment Trusts Law, 5754-1994 ("the Joint Investment Trusts Law "), as applicable. The Products are being offered to a limited number of investors (35 investors or fewer during any given 12 month period) and/or those categories of investors listed in the First Addendum ("the Addendum") to the Securities Law, ("Sophisticated Investors") namely joint investment funds or mutual trust funds, provident funds, insurance companies, banking corporations (purchasing Products for themselves or for clients who are Sophisticated Investors), portfolio managers (purchasing Products for themselves or for clients who are Sophisticated Investors), investment advisors or investment marketers (purchasing Products for themselves), members of the Tel-Aviv Stock Exchange (purchasing Products for themselves or for clients who are Sophisticated Investors), underwriters (purchasing Products for themselves), venture capital funds engaging mainly in the capital market, an entity which is wholly-owned by Sophisticated Investors, corporations, (other than formed for the specific purpose of an acquisition pursuant to an offer), with a shareholders equity in excess of NIS 50 million, and individuals investing for their own account, in respect of which at least one of the following applies: the total value of their cash, deposits, financial assets (as defined in the Investment Advice Law) and securities traded on a stock exchange licensed under the Securities Law (together, “Liquid Assets”) exceeds NIS 8 million (approximately £1.3 million); their level of income over each of the preceding two years exceeds NIS 1.2 million (approximately £200,000), or the level of income of their "family unit" exceeds NIS 1.8 million (approximately £300,000); or the aggregate value of all their Liquid Assets exceeds NIS 5 million (approximately £830,000) and their level of income over each of the preceding two years exceeds NIS 600,000 (approximately £100,000), or the level of income of their "family unit" exceeds NIS 900,000 (approximately £150,000); each as defined in the said Addendum, as amended from time to time, and who in each case have provided written confirmation that they qualify as Sophisticated Investors, and that they are aware of the consequences of such designation and agree thereto; in all cases under circumstances that will fall within the private placement or other exemptions of the Joint Investment Trusts Law, the Securities Law and any applicable guidelines, pronouncements or rulings issued from time to time by the Israel Securities Authority. This document may not be reproduced or used for any other purpose, nor be furnished to any other person other than those to whom copies have been sent. Any offeree who purchases a Product is purchasing such Product for its own benefit and account and not with the aim or intention of distributing or offering such Product to other parties (other than, in the case of an offeree which is a Sophisticated Investor by virtue of it being a banking corporation, portfolio manager or member of the Tel-Aviv Stock Exchange, as defined in the Addendum, where such offeree is purchasing Product for another party which is a Sophisticated Investor). Nothing in this document should be considered investment advice or investment marketing as defined in the Regulation of Investment Counselling, Investment Marketing and Portfolio Management Law, 5755-1995. Investors are encouraged to seek competent investment counselling from a locally licensed investment counsel prior to making the investment. As a prerequisite to the receipt of a copy of this document a recipient may be required by BNY Mellon Investment Management EMEA Limited to provide confirmation that it is a Sophisticated Investor purchasing Products for its own account or, where applicable, for other Sophisticated Investors. This document does not constitute an offer to sell or solicitation of an offer to buy any securities other than the Shares offered hereby, nor does it constitute an offer to sell to or solicitation of an offer to buy from any person or persons in any state or other jurisdiction in which such offer or solicitation would be unlawful, or in which the person making such offer or solicitation is not qualified to do so, or to a person or persons to whom it is unlawful to make such offer or solicitation.
In Mexico, the units have not been and will not be registered with the National Registry of Securities, maintained by the Mexican National Banking Commission and, as a result, may not be offered or sold publicly in Mexico. The fund and any underwriter or purchaser may offer and sell the units in Mexico, to Institutional and Accredited Investors, on a private placement basis, pursuant to Article 8 of the Mexican Securities Market Law.
In Peru, the units have not been registered before the Superintendencia del Mercado de Valores (SMV) and are being placed by means of a private offer. SMV has not reviewed the information provided to the investor. This material is only for the exclusive use of institutional investors in Peru and is not for public distribution.
In Uruguay, the sale of the units qualifies as a private placement pursuant to section 2 of Uruguayan law 18,627. The units must not be offered or sold to the public in Uruguay, except in circumstances which do not constitute a public offering or distribution under Uruguayan laws and regulations. The units are not and will not be registered with the Financial Services Superintendency of the Central Bank of Uruguay. The units correspond to investment funds that are not investment funds regulated by Uruguayan law 16,774 dated September 27, 1996, as amended.
Issued in the UK, Israel, Chile, Mexico, Peru and Uruguay by BNY Mellon Investment Management EMEA Limited, BNY Mellon Centre, 160 Queen Victoria Street, London EC4V 4LA. Registered in England No. 1118580. Authorised and regulated by the Financial Conduct Authority.
Issued in Europe (ex-Switzerland) by BNY Mellon Fund Management (Luxembourg) S.A. (BNY MFML), a public limited company (société anonyme) incorporated and existing under Luxembourg law under registration number B28166 and having its registered address at 2-4 Rue Eugène Ruppert L-2453 Luxembourg. BNY MFML is regulated by the Commission de Surveillance du Secteur Financier (CSSF).
Issued in Switzerland by BNY Mellon Investments Switzerland GmbH, Talacker 29, CH-8001 Zürich, Switzerland. Authorised and regulated by the FINMA.
FOR U.S. FINANCIAL PROFESSIONALS
The Prospectus of BNY Mellon Global Funds plc may be obtained from BNY Mellon Fund Management (Luxembourg) S.A., regulated by the Commission de Surveillance du Secteur Financier (CSSF). Registered address: 2-4 Rue Eugéne Ruppert L-2453 Luxembourg.
BNY Mellon Global Funds, plc is not available to U.S. Persons as defined by Regulation S of the 1933 Act. Neither the BNY Mellon Global Funds, plc nor any of its funds has, or will be, registered in the U.S. under the Investment Company Act of 1940, and the shares in the sub-funds are not registered under the U.S. Securities Act of 1933. Therefore, investors will not be entitled to the benefits of such registration(s). Shares may only be offered and sold in accordance with Regulation S under the Securities Act of 1933.
This document may be distributed to financial professionals and intermediaries in the United States by Unicorn Strategic Partners LLC, as authorised by BNYMIM EMEA on the basis that employees of Unicorn Strategic Partners LLC making such communications are registered representatives of Foreside Fund Services LLC, a registered broker-dealer and FINRA member. Unicorn Strategic Partners LLC and Foreside Fund Services LLC are not affiliated with BNY Mellon.
