Rize Cybersecurity and...In 2019, the sector with the highest cost per stolen record in data...
24
Rize Cybersecurity and Data Privacy UCITS ETF (CYBR)
Transcript of Rize Cybersecurity and...In 2019, the sector with the highest cost per stolen record in data...
Rize Cybersecurity and Data Privacy UCITS ETF (CYBR)
T U R N I N G T H R E A T S I N T O I N V E S T M E N T O P P O R T U N I T I E S .
An ETF that rises above the tide of conventionalism as your investments should
1
Investment Case Why CYBR?
The recent surge in data volumes has been accompanied by headline grabbing cyber-attacks. The attacks are becoming more frequent, and more damaging. As the world becomes increasingly digitised, safety and security are at the top of the global agenda. In parallel, businesses and people are demanding better data and consumer protection. Our innovative investment strategy and ETF – Europe’s most progressive cybersecurity ETF – provides investors with exposure to companies that are poised to benefit from the booming demand in cybersecurity products and services. These companies offer protection against cyber threats and are heralding the crusade for better data privacy regulation around the world. As cybersecurity gains a new dimension in data privacy, cybersecurity companies have an ever-bigger role to play in a world where security is only half the challenge, and governance the other.
• Favourable Growth Prospects CYBR is Europe’s most progressive cybersecurity ETF and provides investors with exposure to a booming industry propelled by fresh concerns for data privacy around the world.
• Powered by Tematica Research® CYBR is purpose-built in collaboration with Tematica Research, a thematic research firm based in Washington, D.C, and leverages their unique insights and proprietary classification system of companies that have demonstrable revenues from the cybersecurity and data privacy sector.
• Unconstrained Approach CYBR’s composition transcends classic sector, size and geographic classifications by tracking an emerging theme.
• ETF Efficiency In a single trade, CYBR delivers access to dozens of companies that are favourably positioned to ride the tailwinds of the cybersecurity and data privacy theme.
Key Risks: Please note that the value of an investment and any income taken from it is not guaranteed and can go down as well as up. You may not get back the amount you originally invested. If your investment currency is different to USD, then the return you will get from your investment may increase or decrease as a result of currency fluctuations between USD and your investment currency.
As this theme matures, it will have a transformative impact on how users interact with digital devices, paving the way for a spectacular growth story in the companies that most stand to benefit.
2
W H O S H O U L D C O N S I D E R T H I S E T F ?
3
• Seeking capital appreciation through investment in companies that are strategically positioned to benefit from the growing demand in cybersecurity and data privacy products and services.
• Interested in a diverse portfolio of stocks with a small to mid-cap bias, and minimal overlap to major benchmarks such as the S&P 500 or the Nasdaq.
• Technology executives, business owners, academics or general market enthusiasts.
• Looking to fill Socially Responsible Investments (SRI) or Environmental, Social and Governance (ESG) mandates.
Investors who are...
Key Risks: Please note that the value of an investment and any income taken from it is not guaranteed and can go down as well as up. You may not get back the amount you originally invested. If your investment currency is different to USD, then the return you will get from your investment may increase or decrease as a result of currency fluctuations between USD and your investment currency.
4
Statistics
$6
57x
2-3x
If?
!
$1
Increase in ransomware
costs
Increase in cyber-attacks
Trillion Trillion +
Serious risk
Cybercrime damages are predicted to cost the world $6 trillion annually by 2021, up from $3 trillion in 2015
Ransomware damages are predicted to grow more than 57x from 2015 - 2021. From $325 million to $20 billion
Healthcare is predicted to suffer 2-3x more cyber-attacks in 2019 than the average amount for other industries
Considering the statistics, it’s not a question of ‘if’ a small to-midsized business will be hacked, but ‘when’
Every Internet user is at serious risk of identify fraud, data theft, and invasion of digital privacy
Global spending on cybersecurity is predicted to exceed $1 trillion cumulatively from 2017 to 2021
Source: Cybersecurity Ventures 2020
5
Expected growth of cybersecurity market worldwide from 2017-2023 ($USD in billions)
Source: Statista 2020
2017 2018 2019 2020 2021 2022 2023
100
50
150
200
250
300
Mar
ket $
USD
in b
illio
ns
137.63 151.67 167.14 184.19 202.97 223.68 248.26
6
Source: Statista 2020
Risks to global businesses in 2019
Business interruption - 37% (including supply chain disruption & vulnerability)
Cyber incidents - 37% (cyber crime, IT failure, data breaches, etc.)
Natural catastrophes - 28% (storm, flood, earthquake)
Changes in legislation and regulation - 27% (government change, economic sanctions, protectionism, etc)
Market developments - 23% (volatility, intensified competition/new entrants, M&A, market stagnaton, market fluctuation)
Fire/explosion - 19%
New technologies - 19% (e.g. impact of increasing interconnectivity, nanotechnology, artificial intelligence, 3D printing, drones, etc.)
Climate change/increasing volatility of weather - 13%
Loss of reputation or brand value - 13%
Shortage of skilled workforce - 9%
37%
37%
28%
27%23%
19%
19%
13%
13% 9%
The statistic presents the leading risks to global businesses in 2019 according to the results of a survey conducted in October and November 2018, among business and risk consultants. According to 37 percent of the survey respondents, cyber incidents such as cybercrime, data breaches or IT failures posed a threat to global businesses in 2019.
7
Source: Statista 2020
This statistic presents a selection of the biggest online data breaches worldwide as of May 2019, ranked by number of records stolen.
Number of compromised data records in selected data breaches as of May 2019 (in millions).
Yaho
o
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
• 3
000
(Aug
‘13,
reve
aled
Dec
‘16,
upd
ated
Dec
‘17)
Face
book
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
220
0(A
pr ‘1
8)**
* Ri
ver C
ity M
edia
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
• 1
370
(Feb
‘17)
Aad
haar
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
• 1
100
(Mar
‘18)
Aad
haar
sys
tem
of t
he U
niqu
e Id
entifi
catio
n
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
• 1
000
Auth
ority
of I
ndia
(UID
AI) 9
Jan
‘18)
Firs
t Am
eric
a Fi
nanc
ial C
orpo
ratio
n
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
8
85(M
ay ‘1
9)
Mar
riott
’s St
arw
ood
gues
t res
erva
tion
data
base
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
500
(Nov
‘18)
Yaho
o
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
500
(201
4, r e
veal
ved
Aug
‘16)
Frie
nd F
inde
r Net
wor
k In
c •
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
4
12
(Oct
‘16)
Twitt
er
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
330
(May
‘18)
Chin
ese
resu
me
leak
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
20
2(D
ec ‘1
8)
US V
oter
dat
abas
e
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
19
8(D
ec ‘1
5)
MyS
pace
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
164
(M
ay ‘1
6) Du
bsm
ash
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
162
(Feb
‘19)
***
Ado
be
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
152
(Sep
‘13)
MyF
itnes
sPal
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
1
50(M
ar ‘1
8)
eBay
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
• 1
45(M
ar ’1
4)
Equi
fax
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
143
(May
-Jul
‘17,
repo
rted
Sep
‘17)
Hea
rtla
nd
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
130
(Jan
‘09)
Link
edIn
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
117
(Jun
‘12,
reve
aled
May
‘16)
VK
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
100
(Jun
‘16)
Quo
ra
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
100
(Dec
‘18)
T.J.
Max
x •
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
94
(Mar
‘07)
AOL
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
92(D
ec ‘1
4)
MyH
erita
ge
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
92
(201
7, re
veal
ed J
un ‘1
8)
Face
book
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
8
7(M
ar ‘1
8)**
87
Daily
mot
ion
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
82
.5
(Oct
‘16)
Anth
em
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
80
(Feb
’15)
Sony
PSN
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
7
7(A
pr ‘1
1)40
0030
0020
0010
000
8
9
10
Cost per stolen record in data breaches worldwide in 2019, by sector (in $USD).
Source: Statista 2020
50 100 150 200 250 300 350 400 450 5000
Cost per stolen record in U.S.dollar
Health
Financial
Technology
Pharmaceuticals
Services
Energy
Industrial
Education
Entertainment
Communication
Consumer
Transportation
Hospitality
Media
Retail
Research
Public
429
210
183
178
178
165
160
142
138
132
131
130
123
123
119
117
78
In 2019, the sector with the highest cost per stolen record in data breaches was healthcare, which had a cost of 429 U.S. dollars per stolen record due to a data breach. The public sector had the lowest cost per stolen record, with a reported amount of only 78 U.S. dollars per record.
11
Share of consumers concerned by cybersecurity and data privacy in Europe in 2018, by country.
Source: Statista 2020
Least bothered
Privacy seekers
Security Sensitive
Security and privacy obsessed
Italy
21%
7%
19%
54%
Spain
24%
11%
19%
46%
France
23%
8%
25%
44%
Germany
30%
10%
17%
43%
United Kingdom
24%
6%
27%
43%
Sweden
35%
8%
26%
31%
Netherlands
43%
8%
22%
26%
This graph shows the results of a survey about the perception of consumers about cybersecurity and data privacy in 2018, by country.
12
A Unique Approach to Thematic Investing
We believe out-of-the- box research has the power to unlock ground breaking insights.
We have created an ETF capability that leverages the best of thematic research and rules-based implementation to deliver solutions that are purpose-built for the thematic investing community. We achieve this by working with leading specialists in each of our themes, in addition to your typical index provider. In this way, we are able to purpose-build all of our investment strategies, which are then codified into indices. We believe that working with experts is the best way to successfully capture the secular, technical and behavioural drivers of a theme, and adopt a targeted approach in accessing the companies that are best placed to benefit.
13
Tematica Research®
About The Partners
Rize ETF has partnered with Tematica Research (“Tematica”) to power up the Rize Cybersecurity and Data Privacy UCITS ETF. Tematica is a thematic research firm that produces equity research, economic insights, and stock portfolios based upon its proprietary thematic perspectives of the world. At the core of everything Tematica do is the company’s thematic lens, which identifies investment themes by looking at the intersection of shifting economics, demographics, psychographics and technologies, mixed in with regulatory mandates and other forces. The company is headquartered in Washington, D.C.
Foxberry®
Rize ETF has engaged Foxberry Limited (“Foxberry”) to administer the index replicable by the Rize Cybersecurity and Data Privacy UCITS ETF. Foxberry are an independent index administrator with state-of-the-art index management, structuring, analysis and technological capabilities typically only found within top-tier investment banks. Foxberry is authorised and regulated by the FCA and registered under the EU benchmark regulation.
14
The Foxberry Tematica Research Cybersecurity & Data Privacy Index provides exposure to companies that derive significant revenues from the provision of products and services that help secure individuals and organisations against cyber threats. The index follows a two-tiered, rank-based weighting scheme where companies with higher ranks achieve a bigger weight in the index. A company’s rank is a direct function of the amount of revenues it derives from the cybersecurity and data privacy theme.
About The Index
S T A T E O F T H E A R T I N D E X M A N A G E M E N T
15
Products Services
Small cap Mid cap Large cap
United States United Kingdom Israel
Japan South Korea Czech Republic
Tematica Research Classification
Market Cap Breakdown
CountryBreakdown
Portfolio Characteristics
2.32%
2.95%
8.92%
10.53%
4.63%
70.65%
29.92%
45.36%
24.72%
56.27%
43.73% 2.32%
2.95%
8.92%
10.53%
4.63%
70.65%
29.92%
45.36%
24.72%
56.27%
43.73% 2.32%
2.95%
8.92%
10.53%
4.63%
70.65%
29.92%
45.36%
24.72%
56.27%
43.73%
Source: Bloomberg as of close 31 December 2019
16
Performance over 5 years
Foxberry Tematica Research Cybersecurity & Data Privacy Index MSCI All-Country World Investable Market Index
240
200
220
180
160
140
120
100
80
60
Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019
Source: Bloomberg.Past performance is not a guide to future performance. The performance shown relates to the Foxberry Tematica Research Cybersecurity & Data Privacy Index as compared against the performance of the MSCI All-Country World Investable Market Index which tracks large, mid and small cap stocks across 23 developed and 26 emerging markets. Foxberry Tematica Research Cybersecurity & Data Privacy Index: The calculation of this index began on 10 January 2020 and therefore it is not possible to show actual performance for any complete 12 month periods. Accordingly, the performance shown is simulated and based on back-tested data and relates to the period between 31 December 2014 and 31 December 2019. Simulated past performance does not represent actual performance and should not be used as a guide to actual or future performance. MSCI All-Country World Investable Market Index: The performance shown is actual past performance and relates to the period between 31 December 2014 and 31 December 2019. Both indices: All performance and volatility data is in USD, unless otherwise stated. Volatility has been calculated as the five-year annualised standard deviation of the daily returns. The performance data shown does not reflect the transaction costs and management fees incurred or charged by financial products such as CYBR. Please note that the value of an investment and any income taken from it is not guaranteed and can go down as well as up. You may not get back the amount you originally invested. If your investment currency is different to USD, then the return you will get from your investment may increase or decrease as a result of currency fluctuations between USD and your investment currency.
Rebased to 100
17
Performance Table & Risk Metrics
Indices
Foxberry Tematica Research Cybersecurity & Data Privacy Index
1 Year
30.1%
23.9% 32.9% 35.4%
93.5% 110.9% 18.1%
10.9%
3 Year 5 Year
MSCI All-Country World Investable Market Index
Performance in USD
Volatility
Source: Bloomberg.Past performance is not a guide to future performance. The performance shown relates to the Foxberry Tematica Research Cybersecurity & Data Privacy Index as compared against the performance of the MSCI All-Country World Investable Market Index which tracks large, mid and small cap stocks across 23 developed and 26 emerging markets. Foxberry Tematica Research Cybersecurity & Data Privacy Index: The calculation of this index began on 10 January 2020 and therefore it is not possible to show actual performance for any complete 12 month periods. Accordingly, the performance shown is simulated and based on back-tested data and relates to the period between 31 December 2014 and 31 December 2019. Simulated past performance does not represent actual performance and should not be used as a guide to actual or future performance. MSCI All-Country World Investable Market Index: The performance shown is actual past performance and relates to the period between 31 December 2014 and 31 December 2019. Both indices: All performance and volatility data is in USD, unless otherwise stated. Volatility has been calculated as the five-year annualised standard deviation of the daily returns. The performance data shown does not reflect the transaction costs and management fees incurred or charged by financial products such as CYBR. Please note that the value of an investment and any income taken from it is not guaranteed and can go down as well as up. You may not get back the amount you originally invested. If your investment currency is different to USD, then the return you will get from your investment may increase or decrease as a result of currency fluctuations between USD and your investment currency.
18
19
Trading Information
ETF • • • • • • • • • Rize Cybersecurity and Data Privacy UCITS ETF • • • • • • • • • • • • • • • • • • •
Base Currency • • • • • • • USD • • • • • • • • • • • • • • • • • • • • • • • • • • • • •
Total Expense Ratio • • • • • 0.45% • • • • • • • • • • • • • • • • • • • • • • • • • • • • •
Inception Date • • • • • • • Monday, 10 February 2020 • • • • • • • • • • • • • • • • • • • • • • • •
ISIN • • • • • • • • • IE00BJXRZJ40 • • • • • • • • • • • • • • • • • • • • • • • • • • •
Base Code • • • • • • • • CYBR • • • • • • • • • • • • • • • • • • • • • • • • • • • • •
Listings and Tickers • • • • • London Stock Exchange • • • • • • • • • • • • • • CYBR (USD), CYBP (GBP) • • •
• • • • • • • • • • • Deutsche Börse • • • • • • • • • • • • • • • • RCRS (EUR) • • • • • • •
• • • • • • • • • • • Borsa Italiana • • • • • • • • • • • • • • • • • CYBR (EUR) • • • • • • •
Index / Ticker • • • • • • • Foxberry Tematica Research Cybersecurity & Data Privacy Index / FXBYCYBR • • • • • • • • • • •
Thematic Industry Classification • • Tematica Research Cybersecurity & Data Privacy Global Classification • • • • • • • • • • • • •
Index Replication Method • • • • Physical - Full Replication • • • • • • • • • • • • • • • • • • • • • • • •
Income Treatment • • • • • • Accumulating • • • • • • • • • • • • • • • • • • • • • • • • • • •
UCITS • • • • • • • • • Yes • • • • • • • • • • • • • • • • • • • • • • • • • • • • •
Domicile • • • • • • • • Ireland • • • • • • • • • • • • • • • • • • • • • • • • • • • • •
Fund Type • • • • • • • • Irish ICAV • • • • • • • • • • • • • • • • • • • • • • • • • • • •
Issuer • • • • • • • • • Rize UCITS ICAV • • • • • • • • • • • • • • • • • • • • • • • • • •
Promoter • • • • • • • • Rize ETF Limited • • • • • • • • • • • • • • • • • • • • • • • • • •
Investment Manager • • • • • Davy Global Fund Management Limited • • • • • • • • • • • • • • • • • • • • •
Manager • • • • • • • • Davy Global Fund Management Limited • • • • • • • • • • • • • • • • • • • • •
Depositary/Custodian • • • • • Northern Trust Fiduciary Services (Ireland) Limited • • • • • • • • • • • • • • • • • •
ISA Eligible (UK) • • • • • • Yes • • • • • • • • • • • • • • • • • • • • • • • • • • • • •
SIPP Eligible (UK) • • • • • • Yes • • • • • • • • • • • • • • • • • • • • • • • • • • • • •
UK Reporting Fund Status (UK) • • • Yes • • • • • • • • • • • • • • • • • • • • • • • • • • • • •
Equity Fund (Germany) • • • • • Yes • • • • • • • • • • • • • • • • • • • • • • • • • • • • •
Investment Fund Status (Germany) • • Yes • • • • • • • • • • • • • • • • • • • • • • • • • • • • •
20
R I Z E I S E U R O P E ’ S F I R S T S P E C I A L I S T T H E M A T I C E T F I S S U E R
At Rize ETF, we believe there’s a better way to invest in the future. Our ETFs provide investors with unprecedented access to the megatrends that are transforming our world. We believe we’re pioneering a new way of investing, one that enables investors of all stripes to generate long-term returns whilst staying on the right side of history.
We are committed to challenging orthodoxy and providing investors with seamless access to the most ground-breaking megatrends shaping our planet.
21
Important Information
This document is issued by Rize ETF Limited. Rize ETF Limited is an Appointed Representative of Aldgate Advisors Limited, a firm authorised and regulated by the Financial Conduct Authority (FCA FRN 763187). Rize ETF Limited is registered in England and Wales number 11770079.
The information contained in this document is solely intended for professional investors as defined within the meaning of the Markets in Financial Instruments Directive (MiFID) (the “Directive”). Persons who do not fall within this definition should return this document immediately to Rize ETF Limited and should not review the remainder of the material, and in any event, must not act or rely upon the information contained in this document. By continuing to review this document, each person is deemed to confirm, warrant and represent that they fit within the definition of professional investor within the meaning of the Directive.
This document is not being provided to you on the basis that you are a client of Rize ETF Limited. Rize ETF Limited is not acting on your behalf and is not responsible for providing protections that would otherwise be afforded to clients of Rize ETF Limited.
This document is for information purposes only. Its contents, and the fact of its distribution, do not constitute investment advice, nor do they constitute tax, legal or any other form of advice. It does not constitute or form part of any offer to issue or sell, or the solicitation of any offer to buy or sell any investment. It shall not form the basis of, or be relied upon in connection with, any contract. Where this document contains past performance and projected performance information, it must be noted that past performance and projected performance is not a reliable indicator of future performance. Simulated past performance does not represent actual past performance and should not be used as a guide to actual past or future performance.
Capital at Risk Warning – Please note that the value of an investment and any income taken from it is not guaranteed and can go down as well as up. You may not get back the amount you originally invested. If your investment currency is different to the Funds’ currency of denomination (USD) or the currencies in which the Funds’ assets are denominated (which may be a range of different global currencies) , then the return you will get from your investment may increase or decrease as a result of currency fluctuations between your investment currency and such currencies.
The products referred to in this document are offered by Rize UCITS ICAV (the “ICAV”). The ICAV is an open-ended Irish collective asset management vehicle which is constituted as an umbrella fund with variable capital and segregated liability between its sub-funds (each, a “Fund”) and registered in Ireland with registration number C193010 and authorised by the Central Bank of Ireland as a UCITS. The ICAV is managed by Davy Global Fund Management Limited.
The Funds are not offered or aimed at residents in any country in which (a) the ICAV and the Funds are not authorised or registered for distribution and where to do so is contrary to the relevant country’s securities laws, (b) the dissemination of information relating to the ICAV and the Funds via the internet is forbidden, and/or Rize ETF Limited is not authorised or qualified to make such offer or invitation.
The Funds may be registered or otherwise approved for distribution to the public in one or more European jurisdictions. Where this is the case, a country-specific web page and copies of the relevant prospectus, fund supplements, any country-specific supplements, KIIDs, constitutional documents and the latest annual and semi-annual reports relating to the ICAV and the latest Net Asset Values of the Funds (or any share classes thereof (each, a “Share Class”) (the “Fund Information”) will be available at http://www.rizeetf.com. The fact of such a registration or approval, however, does not mean that any regulator (including the FCA) has determined that the Funds (or any Share Classes thereof) are suitable for all categories of investors. Investors should continue to consider the terms of investment in any Fund (or Share Class thereof) carefully and seek professional investment advice before taking any decision to invest in such Fund (or Share Class thereof).
United Kingdom: For the purposes of the United Kingdom Financial Services and Markets Act 2000 (“FSMA”), the ICAV is a UCITS that has been recognised by the Financial Conduct Authority (the “FCA”). The Fund Information can be obtained free of charge upon request from the Facilities Agent in the United Kingdom, Davy Global Fund Management Limited, at Dashwood House, 69 Old Broad Street, London, EC2M 1QS.
Germany: The offering of the Shares of the ICAV has been notified to the German Financial Services Supervisory Authority (BaFin) in accordance with section 310 of the German Investment Code (KAGB). The Fund Information (including the KIIDs in German language) can be obtained free of charge upon request from the Information Agent in Germany, German Fund Information Service Ug (Haftungsbeschränkt), at Zum Eichhagen 4, 21382 Brietlingen, Germany.
United States: This document and its contents are not directed at any person that is resident in the United States (“US person”), and no offer or invitation is made to any US person to acquire or sell any service, product or security referred to. The provision of any information in this document does not constitute an offer to US persons to purchase securities.
Further information about the Funds (and Share Classes thereof) described in this document, such as details of the key underlying investments of the Funds and share prices, is available at http://www.rizeetf.com or from your broker or financial adviser. The indicative intra-day net asset values of the Share Classes of the Funds are available at http://www.solactive.com. A UCITS ETF’s units / shares that have been acquired on the secondary market cannot usually be sold directly back to the UCITS ETF itself. Investors who are not Authorised Participants must buy and sell shares on a secondary market with the assistance of an intermediary (e.g. a stockbroker) and may incur fees and additional taxes in doing so. In addition, as the market price at which the Shares are traded on the secondary market may differ from the Net Asset Value per Share, investors may pay more than the then current Net Asset Value per Share when buying shares and may receive less than the current Net Asset Value per Share when selling them. Any decision to invest must be based solely on the information contained in the relevant prospectus, fund supplements, any country-specific supplements, KIIDs, constitutional documents and the latest annual and semi-annual reports relating to the ICAV. Investors should read the Fund-specific risks in the ICAV’s prospectus and any Fund-specific supplement and KIID.
22
