company logo

Product Availability

You may use the following ISIN to subscribe to the product with your existing banking relation and get the product conveniently booked into your existing portfolio. Please get in touch with your bank if you have further questions on how to subscribe and if the product matches your risk profile*.


ISIN:

CH1234846777


(Please accept disclaimer below)


Swissquote Client?

If you are a client of our product launch partner Swissquote please click the button below and be directed to the product on the Swissquote platform.



*Please be advised that the product being offered carries a level of risk that may not be suitable for all investors. It is important to ensure that the investment product matches your personal risk profile before making any decisions. You should carefully consider your investment objectives, level of experience, and risk appetite before deciding to invest in this product. We strongly recommend seeking professional financial advice before making any investment decisions.


Stableton Unicorn Index AMC

Venture Capital Access for Private Investors and Advisors


The world's first open-ended semi-liquid product focusing on the leading privately held growth companies, seeking to best reflect a venture capital index.

Stableton Unicorn Index AMC

Venture Capital Access for Private Investors and Advisors


The world's first open-ended private market index product with enhanced liquidity. Leverage key global megatrends through rapidly growing technology leaders.

Product Overview

ISIN

CH1234846777

End of Subscription

June 13, 2023

Return

-


NAV

USD 100.-

Fees

Low / medium

Liquidity

Weekly subscriptions & redemptions


This product is not directly comparable to a public market index product. The product performance and composition may meaningfully deviate from the benchmark index due to limited availability and differences in actual market prices. The investment strategy aims to keep the difference to the benchmark index composition as low as possible by actively sourcing and executing private market transactions.


Morningstar® PitchBook® Unicorn Select 20 Index™


The index tracks the largest 20 privately held, late-stage venture capital-backed companies with post-money valuations of at least USD 1 billion from Developed Markets Countries. It includes some of the most exciting and fastest-growing companies.


About the Index

Details

Number of Holdings

20

Total Market Cap

$681.4b

Weighted Avg. Market Cap

$37.5b

Median Market Cap

$20.1b

Market Capitalization

Mega Cap ($100bn+)

5%

Large ($10bn-$100bn)

80%

Medium & Small (<$10bn)

15%

Sector Breakdown

Information Technology

60%

Business Products, Services

10%

Consumer Products, Services

20%

Financial Services

5%

Healthcare

5%

Geographic Breakdown

Europe

20%

Asia

5%

North America

70%

Oceania

5%


As of 30/03/2023


Index Performance


Morningstar® PitchBook® Unicorn Select 20 Index™

Public Equities*


As of 30/03/2023; * as measured by the Morningstar® Developed Markets Target Market Exposure Index™


Performance

1 m

3 m

1 y

3 y

5 y

Morningstar® PitchBook® Unicorn Select 20 Index™

-2.1%

0.4%

-18.1%

99.3%

180.3%

Public Equities*

1.7%

6.2%

-9.2%

60%

48.4%

Outperformance vs. Public Equities*

-3.8%

-5.7%

-8.9%

39.3%

131.8%

Performance

Morningstar® PitchBook® Unicorn Select 20 Index™

Public Equities*

Outperformance vs. Public Equities*

1 m

-2.1%

1.7%

-3.8%

3 m

0.4%

6.2%

-5.7%

1 y

-18.1%

-9.2%

-8.9%

3 y

99.3%

60%

39.3%

5 y

180.3%

48.4%

131.8%


* as measured by the Morningstar® Developed Markets Target Market Exposure Index™

Past performance in not indication of future results

Higher Return Potential than Public Markets


The index has substantially outperformed public equities over almost 10 years. Leading tech unicorns offer significantly higher return potential.

Higher Return Potential Than Public Markets


The index has substantially outperformed public equities over almost 10 years. Adding a private market component enables investors to profit from potentially higher returns.

Performance

1 m

3 m

1 y

3 y

5 y

Morningstar® PitchBook® Unicorn Select 20 Index™

-2.1%

0.4%

-18.1%

99.3%

180.3%

Public Equities*

1.7%

6.2%

-9.2%

60%

48.4%

Outperformance Morningstar Index vs. MSCI World

-3.8%

-5.7%

-8.9%

39.3%

131.8%

Performance

Morningstar® PitchBook® Unicorn Select 20 Index™

Public Equities*

Outperformance Morningstar Index vs. MSCI World

1 m

-2.1%

1.7%

-3.8%

3 m

0.4%

6.2%

-5.7%

1 y

-18.1%

-9.2%

-8.9%

3 y

99.3%

60%

39.3%

5 y

180.3%

48.4%

131.8%


* Public Equities as measured by the Morningstar® Developed Markets Target Market Exposure Index

Past performance in not indication of future results

Higher Return Potential Than Public Markets


The index has substantially outperformed public equities over almost 10 years. Adding a private market component enables investors to profit from potentially higher returns.

Performance

1 m

3 m

1 y

3 y

5 y

Morningstar® PitchBook® Unicorn Select 20 Index™

-2.1%

0.4%

-18.1%

99.3%

180.3%

Public Equities*

1.7%

6.2%

-9.2%

60%

48.4%

Outperformance Morningstar Index vs. MSCI World

-3.8%

-5.7%

-8.9%

39.3%

131.8%

Performance

Morningstar® PitchBook® Unicorn Select 20 Index™

Public Equities*

Outperformance Morningstar Index vs. MSCI World

1 m

-2.1%

1.7%

-3.8%

3 m

0.4%

6.2%

-5.7%

1 y

-18.1%

-9.2%

-8.9%

3 y

99.3%

60%

39.3%

5 y

180.3%

48.4%

131.8%


* Public Equities as measured by the Morningstar® Developed Markets Target Market Exposure Index™

Past performance in not indication of future results


Attractive Risk/Return Metrics


Not investing in private markets can have high opportunity costs. While the index backtested returns were significantly higher, the volatility as measured by standard deviation was similar to Public Equities. Also, the maximum drawdown at the index was lower over the last ca. 10 years.

Backtest Results (12-2014 - 03/2023)

Public Equities*

Morningstar® PitchBook® Unicorn Select 20 Index™

Annualized Return

22.2%

8.2%

Standard Deviation

16.2%

15.5%

Return/Risk

1.4

0.5

Max Drawdown

-19.5%

-25.1%


* as measured by the Morningstar® Developed Markets Target Market Exposure Index™

Please note that the information provided above is for illustrative purposes only and should not be construed as financial advice. Past performance is not indicative of future results, and historical data should not be relied upon as a guarantee of future performance. Furthermore, please be aware that the information presented is not intended to represent any specific product or investment, and is not intended to be a substitute for professional financial advice. This is not the actual product and should not be treated as such. Please consult with a licensed financial advisor before making any investment decisions.


Index Composition

Company

Sector

Last Round Valuation, USD Bln

Last Round Date

Weight

SpaceX

Aerospace and Defense

137

1/2023

5%

SHEIN

Internet Retail

100

10/2022

5%

Stripe

Financial Software

50

3/2023

5%

Instacart

Internet Retail

45

8/2021

5%

Checkout.com

Financial Software

40

1/2022

5%

Canva

Multim. & Design Software

40

9/2021

5%

Databricks

Database Software

38

8/2021

5%

Revolut

Financial Software

33

7/2021

5%

Epic Games

Entertainment Software

31.5

4/2022

5%

Waymo

Automotive

30.8

5/2020

5%

Chime

Financial Software

25

9/2021

5%

Miro

Business Software

17.5

12/2021

5%

VillageMD

Healthcare services

15.8

4/2022

5%

Gopuff

Internet Retail

15

7/2021

5%

CloudKitchens

Other Com. Services

15

11/2021

5%

Discord

Communication Software

14.7

9/2021

5%

Blockchain.com

Financial Software

14

3/2022

5%

Plaid

Financial Software

13.4

4/2021

5%

OpenSea

Financial Software

13.3

12/2021

5%

Celonis

Business Software

13

8/2022

5%


An Index of Stellar Companies


The Morningstar® PitchBook® Unicorn Select 20 Index™ includes some of the most exciting tech companies in the world, such as Stripe, Databricks, or SpaceX, but its compass is broader than that. The common denominator is that all unicorns utilize the latest, cutting-edge technology.

An Index of Stellar Companies


The Morningstar® PitchBook® Unicorn Select 20 Index includes some of the most exciting tech companies in the world, such as Stripe, Databricks, or SpaceX, but its compass is broader than that. The common denominator is that all unicorns utilize the latest, cutting-edge technology.


Index Composition

Company

Sector

Last Round Valuation, USD Bln

Last Round Date

Weight

SpaceX

Aerospace and Defense

137

1/2023

5%

SHEIN

Internet Retail

100

10/2022

5%

Stripe

Financial Software

50

3/2023

5%

Instacart

Internet Retail

45

8/2021

5%

Checkout.com

Financial Software

40

1/2022

5%

Canva

Multim. & Design Software

40

9/2021

5%

Databricks

Database Software

38

8/2021

5%

Revolut

Financial Software

33

7/2021

5%

Epic Games

Entertainment Software

31.5

4/2022

5%

Waymo

Automotive

30.8

5/2020

5%

Chime

Financial Software

25

9/2021

5%

Miro

Business Software

17.5

12/2021

5%

VillageMD

Healthcare services

15.8

4/2022

5%

Gopuff

Internet Retail

15

7/2021

5%

CloudKitchens

Other Com. Services

15

11/2021

5%

Discord

Communication Software

14.7

9/2021

5%

Blockchain.com

Financial Software

14

3/2022

5%

Plaid

Financial Software

13.4

4/2021

5%

OpenSea

Financial Software

13.3

12/2021

5%

Celonis

Business Software

13

8/2022

5%

An Index of Stellar Companies


The Morningstar® PitchBook® Unicorn Select 20 Index includes some of the most exciting tech companies in the world, such as Stripe, Databricks, or SpaceX, but its compass is broader than that. The common denominator is that all unicorns utilize the latest, cutting-edge technology.


Index Composition

Company

Sector

Last Round Valuation, USD Bln

Last Round Date

Weight

SpaceX

Aerospace and Defense

137

1/2023

5%

SHEIN

Internet Retail

100

10/2022

5%

Stripe

Financial Software

50

3/2023

5%

Instacart

Internet Retail

45

8/2021

5%

Checkout.com

Financial Software

40

1/2022

5%

Canva

Multim. & Design Software

40

9/2021

5%

Databricks

Database Software

38

8/2021

5%

Revolut

Financial Software

33

7/2021

5%

Epic Games

Entertainment Software

31.5

4/2022

5%

Waymo

Automotive

30.8

5/2020

5%

Chime

Financial Software

25

9/2021

5%

Miro

Business Software

17.5

12/2021

5%

VillageMD

Healthcare services

15.8

4/2022

5%

Gopuff

Internet Retail

15

7/2021

5%

CloudKitchens

Other Com. Services

15

11/2021

5%

Discord

Communication Software

14.7

9/2021

5%

Blockchain.com

Financial Software

14

3/2022

5%

Plaid

Financial Software

13.4

4/2021

5%

OpenSea

Financial Software

13.3

12/2021

5%

Celonis

Business Software

13

8/2022

5%


As of 30/03/2023

All company logos and brand names are the property of their respective owners and used for identification purposes only. Use of these company logos and brand names does not imply endorsement or affiliation.


Frequently Asked Questions

Private market investments are a "must have" component of a modern diversified portfolio, looking beyond stocks and bonds. The Stableton Unicorn Index AMC offer a perfect way to get started.

How can I invest?

Via an Actively Managed Certificate (AMC), which is open for public distribution in Switzerland. Clients can invest directly via their bank or broker by purchasing the product via a Swiss ISIN. The product will be held in the client's bank or brokerage account.


How can I exit / redeem?

The certificate can be redeemed (to the issuer), or transferred to another buyer. Redemptions are possible on a weekly basis and require a notice period of 3 days. In the first 12 months after the product launch, no redemptions are possible. However, it may be possible to sell to other counterparties. Further restrictions may apply - for details please consult the factsheet. The product will likely also be listed (e.g. Vienna stock exchange) and we are working towards adding liquidity providers.


What does Stableton do?

Stableton is an award-winning fintech platform (Swiss Fintech Award 2022 in the Growth Stage Startup category) and investment firm specializing in private markets. The platform offers institutional and qualified investors unique investment opportunities in late-stage growth companies, with enhanced liquidity.


What is the Morningstar® PitchBook® Unicorn Select 20 Index™?

The Morningstar® PitchBook® Unicorn Select 20 Index™ was created with Stableton by Morningstar and is used as a benchmark for Stableton's unicorn investment offering. It relies on the same methodology as the Morningstar® PitchBook® Global Unicorn indexes, but includes only 20 components, is equally weighted, and targets developed markets. While maintaining a solid representation of the private market, those adjustments enable Stableton to carry out the investment strategy to mimic the index holdings as closely as possible and to potentially achieve the index performance over time.


How has the index performed historically?

Over the last 10 years, the the Morningstar® PitchBook® Unicorn Select 20 Index™ outperformed public equities significantly (22.2% vs. 8.2% p.a.) while benefiting from a lower max drawdown (-19.5% vs. -25.1%). For further details, please consult the Morningstar® PitchBook® Unicorn Select 20 Index™ page. For this comparison, public equities are represented by the Morningstar® Developed Markets Target Market Exposure Index™, which covers public equities in developed markets.


Where can I find more details?

Further details (Factsheet, Final Terms, KID) can be found on the page of Disruptive Issuance.




Ready to Begin Your Venture Capital Journey?

Click here for further guidance


Ready to Begin Your Venture Capital Journey?

Click here for further guidance


Contact Us

Call Us

Contact Us

+41 41 552 5900

Monday to Friday 8:00 a.m. to 6:00 p.m. (CET)

Direct Contact

Professional Investor Desk

Contact Us

+41 41 552 5911

Private Investor Desk

Contact Us

+41 41 552 5977

Poststrasse 24, 6300 Zug, Switzerland

How to Reach Us
How to Reach Us

How to Reach Us