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

YTD Return: 3.86%

as of 11/6/2024

Net Asset Value: $103.74

as of 11/6/2024

Fees: Low / medium

Liquidity: Weekly subscriptions & redemptions

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

$691.6b

Weighted Avg. Market Cap

$35.2b

Median Market Cap

$17.2b

Market Capitalization

Mega Cap ($100bn+)

6%

Large ($10bn-$100bn)

94%

Medium & Small (<$10bn)

0%

Sector Breakdown

Information Technology

61%

Business Products, Services

25%

Consumer Products, Services

3%

Financial Services

11%

Geographic Breakdown

Europe

10%

Asia

4%

North America

81%

Oceania

5%


As of 18/3/2024


Index Performance


Morningstar® PitchBook® Unicorn Select 20 Index™

Public Equities*


* 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™

1.1%

-0.9%

2.6%

13.1%

123%

Public Equities*

2%

4.1%

23%

22.7%

80%

Outperformance vs. Public Equities*

-0.9%

-5.1%

-20.4%

-9.7%

43%

Performance

Morningstar® PitchBook® Unicorn Select 20 Index™

Public Equities*

Outperformance vs. Public Equities*

1 m

1.1%

2%

-0.9%

3 m

-0.9%

4.1%

-5.1%

1 y

2.6%

23%

-20.4%

3 y

13.1%

22.7%

-9.7%

5 y

123%

80%

43%


* 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™

1.1%

-0.9%

2.6%

13.1%

123%

Public Equities*

2%

4.1%

23%

22.7%

80%

Outperformance Morningstar Index vs. MSCI World

-0.9%

-5.1%

-20.4%

-9.7%

43%

Performance

Morningstar® PitchBook® Unicorn Select 20 Index™

Public Equities*

Outperformance Morningstar Index vs. MSCI World

1 m

1.1%

2%

-0.9%

3 m

-0.9%

4.1%

-5.1%

1 y

2.6%

23%

-20.4%

3 y

13.1%

22.7%

-9.7%

5 y

123%

80%

43%


* 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™

1.1%

-0.9%

2.6%

13.1%

123%

Public Equities*

2%

4.1%

23%

22.7%

80%

Outperformance Morningstar Index vs. MSCI World

-0.9%

-5.1%

-20.4%

-9.7%

43%

Performance

Morningstar® PitchBook® Unicorn Select 20 Index™

Public Equities*

Outperformance Morningstar Index vs. MSCI World

1 m

1.1%

2%

-0.9%

3 m

-0.9%

4.1%

-5.1%

1 y

2.6%

23%

-20.4%

3 y

13.1%

22.7%

-9.7%

5 y

123%

80%

43%


* 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 - today)

Public Equities*

Morningstar® PitchBook® Unicorn Select 20 Index™

Annualized Return

10%

18.7%

Standard Deviation

15.2%

16.9%

Return/Risk

0.7

1.1

Max Drawdown

-25.1%

-29%


* 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

Weight

Last Round (in $Bn)

Secondary Market Discounts

Last Round Date

Global Space Co.*

Aerospace and Defense

5%

180

-1% to 9%

12/2023

SHEIN

Internet Retail

3.9%

66

n/a

5/2023

Stripe

Financial Software

4.8%

50

40% to 50%

3/2023

Databricks

Database Software

5.7%

43.2

n/a

11/2023

Revolut

Financial Software

4.8%

33

-57% to -47%

7/2021

Epic Games

Entertainment Software

5.7%

31.5

-44% to -34%

4/2022

OpenAI

Productivity Software

4.8%

29

-13% to -3%

4/2023

Canva

Multim. & Design Software

5.9%

26

-3% to 7%

3/2024

Chime

Financial Software

4.7%

25

-79% to 69%

7/2023

Anthropic

Productivity Software

3.8%

20.2

-26% to -16%

10/2023

Ripple

Financial Software

5.3%

15

-79% to 69%

1/2022

Gopuff

Internet Retail

3.2%

15

n/a

7/2021

Discord

Communication Software

5.9%

14.7

-50% to -60%

9/2021

Plaid

Financial Software

5.2%

13.4

-73% to -63%

4/2021

Celonis

Business Software

5.2%

13

-57% to -47%

8/2022

Brex

Financial Software

5.3%

12.3

-79% to -69%

1/2022

Deel

Business Software

5.2%

12.1

-46% to -36%

5/2022

Rippling

Business Software

5.2%

11.8

-24% to -14%

3/2023

Airtable

Productivity Software

5.2%

11.7

-79% to -69%

12/2021

Kraken

Financial Software

5.3%

10.8

n/a

2/2022


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 Canva, 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 Canva, but its compass is broader than that. The common denominator is that all unicorns utilize the latest, cutting-edge technology.


Index Composition

Company

Sector

Weight

Last Round (in $Bn)

Secondary Market Discounts

Last Round Date

Global Space Co.*

Aerospace and Defense

6%

180

0% to 10%

12/2023

OpenAI

Productivity Software

4.8%

86

8% to 18%

1/2024

SHEIN

Internet Retail

4.1%

66

-22% to 12%

5/2023

Stripe

Financial Software

4.8%

50

22% to 32%

3/2023

Databricks

Database Software

5.7%

43.2

-19% to -9%

11/2023

Revolut

Financial Software

4.6%

33

-48% to -38%

7/2021

Epic Games

Entertainment Software

6.1%

31.5

-35% to -25%

4/2022

Canva

Multim. & Design Software

5.5%

26

15% to 25%

3/2024

Chime

Automotive

4.6%

25

-76% to -66%

7/2023

Anthropic

Productivity Software

2.9%

18.4

0% to 10%

2/2024

Gopuff

Internet Retail

3.4%

16

-61% to -51%

7/2021

Ripple

Financial Software

5.6%

15

-76% to -66%

1/2022

Discord

Communication Software

5.6%

14.7

-68% to -58%

9/2021

Rippling

Business Software

5.1%

13.5

-3% to 7%

4/2024

Plaid

Financial Software

4.8%

13.4

-65% to -55%

4/2021

Celonis

Business Software

5.1%

13

-45% to -35%

8/2022

Brex

Financial Software

5.9%

12.3

-79% to -69%

1/2022

Deel

Business Software

5.1%

12.1

-46% to -36%

5/2022

Airtable

Productivity Software

5%

11.7

-79% to -69%

12/2021

Kraken

Financial Software

5.3%

10.8

-82% to -72%

2/2022

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 Canva, but its compass is broader than that. The common denominator is that all unicorns utilize the latest, cutting-edge technology.


Index Composition

Company

Sector

Weight

Last Round (in $Bn)

Secondary Market Discounts

Last Round Date

Global Space Co.*

Aerospace and Defense

5.3%

137

4% to 14%

1/2023

SHEIN

Internet Retail

4%

66

n/a

5/2023

Stripe

Financial Software

5%

50

13% to 23%

5/2023

Checkout.com

Financial Software

4.8%

40

n/a

8/2021

Canva

Multim. & Design Software

6.2%

40

-58% to -48%

9/2021

Databricks

Database Software

6.5%

38

-18% to -8%

8/2021

Revolut

Financial Software

5%

33

-70% to -60%

7/2021

Epic Games

Entertainment Software

5.5%

31.5

-60% to -50%

4/2022

Waymo

Automotive

5.5%

30.8

n/a

5/2020

Chime

Financial Software

5%

25

-78% to -68%

9/2021

Miro

Business Software

6.1%

17.5

n/a

12/2021

VillageMD

Healthcare services

6.1%

15.8

n/a

4/2022

Gopuff

Internet Retail

3.7%

15

-64% to -54%

7/2021

CloudKitchens

Other Com. Services

5.1%

15

n/a

11/2021

Discord

Communication Software

6.2%

14.7

-60% to -50%

9/2021

Blockchain.com

Financial Software

3.8%

14

n/a

3/2022

Plaid

Financial Software

5.3%

13.4

-80% to -70%

4/2021

OpenSea

Financial Software

5.1%

13.3

-82% to -72%

12/2021

Celonis

Business Software

5.5%

13

-57% to -47%

8/2022


*Undisclosed, please get in touch with us for further information Secondary Market Observed Discount. A positive value indicates a premium to the last round. As of 31/5/2024


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.


Exited Index Holdings

Some of the most innovative and fast-growing companies were former holdings of the Morningstar® PitchBook® Unicorn Select 20 Index™

The Stableton Unicorn Index AMC efficiently replicates the cream of the private market universe by including only the top 20 unicorns.

Instacart

IPO in Sep 2023

Uber

IPO in May 2019

Airbnb

IPO in Dec 2020

Dropbox

IPO in Mar 2018

Snowflake(Database Software)

IPO in Sep 2020

Snap Group

IPO in Mar 2017

Lyft

IPO in Mar 2019

Spotify

IPO in Apr 2018

Marqeta

IPO in Jun 2021

Robinhood (Brokerage)

IPO in Jul 2021

Palantir Technologies

IPO in Sep 2020

Pinterest

IPO in Apr 2019

Unity

IPO in Sep 2020

Box

IPO in Jan 2015

Reata Pharmaceuticals

IPO in May 2016

Pure Storage

IPO in Oct 2015

Wish

IPO in Dec 2020

Moderna Therapeutics

IPO in Dec 2018

Coinbase

IPO in Apr 2021

Rivian

IPO in Nov 2021

Bloom Energy

IPO in Jul 2018

Compass

IPO in Apr 2021

SenseTime

IPO in Dec 2021

DoorDash

IPO in Dec 2020

Block

IPO in Nov 2015

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.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?

You can invest directly via your bank or broker by purchasing the product via Swiss ISIN (CH1234846777). The Actively Managed Certificate (AMC) is open for public distribution in Switzerland and the product will be held in your bank or brokerage account. Orders should be placed as market orders or with a sufficiently high limit order to ensure fees are covered. The subscription is possible on a weekly basis.


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 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.



Introducing the Stableton Unicorn Index AMC

Learn how an allocation to the most exciting and rapidly growing privately held companies can help to boost your portfolio.


Ready to Begin Your Venture Capital Journey?

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Ready to Begin Your Venture Capital Journey?

Click here for further guidance


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