Logo
Switch to German

Disclaimer

Important notes and conditions of use

In order to access our homepage, you must confirm that you have read and understood the contents of the following legal information and that you accept them. Please read the following important notes and terms of use.

For professional investors only

Our website is aimed exclusively at professional customers within the meaning of the German Securities Trading Act (Section 31a par. 2 WpHG), but is not meant for private customers. By accepting the important notices and terms of use, the user declares that he is a professional customer.

Dissemination of information/sales restrictions

These Internet pages are aimed at persons who have their domicile in the Federal Republic of Germany. The dissemination of the information contained herein and the acquisition of shares of the fund referred to here may be prohibited in certain countries. The information is therefore in no way directed at persons or entities in a sovereign territory (due to nationality, place of residence or registered office or for any other reason) in which the publication, dissemination or use of this information violates local laws or regulations, or in which ARIAD Asset Management GmbH would be subject to registration or licensing requirements, and will not be provided for distribution in such sovereign territories. You must find out about any restrictions of this nature in your territory, observe them and declare by accepting these important notices and conditions that you have done so.

Information for US citizens

The information contained on these Internet sites is not intended for distribution in the USA or to US citizens (this applies to persons resident in the United States of America, as well as to persons and corporations established under the laws of that country).

No offers

The information and materials provided serve informational purposes only and do not constitute a public solicitation for subscriptions, or an offer to sell financial instruments, or a solicitation for offers to purchase financial instruments.

No advice

The information and materials provided serve information purposes only and do not constitute any advertising, recommendation, financial or other advice. The individual investment objectives, experience, risk propensity and financial condition of the users of these Internet sites cannot be considered. The information in no case supersedes advice and investment advice. Investments in financial instruments involve risks. Past performance is not a reliable indicator of future results. The only valid basis for the acquisition of shares in investment funds is their current sales prospectus with their contractual terms in conjunction with their respective latest audited annual report and semi-annual report if t5he date of the latter is more recent than that of the last annual report or key investor information. You may obtain these documents from the respective management company or custodian bank as well as from the paying agencies.

Disclaimer

ARIAD Asset Management GmbH will not be liable for any loss or damage of any kind or cause whatsoever that may arise wholly or partly from the use of this website, the failure or unavailability of access to this website or any linked sites, or any act or omission of any other party involved in the preparation of this website or the information provided to you, whether or not the circumstances leading to such loss or damage might have been influenced by ARIAD Asset Management GmbH or ARIAD Asset Management GmbH was aware of the possibility of loss or damage. ARIAD Asset Management GmbH seeks to update the content of this website and ensure its correctness. The content is based on sources that we consider reliable. Nevertheless, ARIAD Asset Management GmbH does not assume any warranty or guarantee for the correctness, completeness, accuracy, topicality, quality or availability of the content and materials displayed on this website.

Copyright

The graphics, documents, video sequences and texts contained on this website are protected by copyright. Any reproduction or use of these media, in particular in other electronic or printed publications, is not permitted without the written consent of ARIAD Asset Management GmbH.
Use and dissemination of personal data
If you provide us with personal data, we shall use it only to answer your questions. You have the right to revoke your consent with effect for the future at any time. We do not share this information with other companies for advertising purposes.

Applicable law and legal effect

These important notices and terms of use, in particular the disclaimer, are to be regarded in the context of the Internet posting in which reference was made to this section. Should parts or individual formulations of this information prove to be legally invalid or become so in future, the content and validity of the remaining parts of this notification shall remain unaffected. ARIAD Asset Management GmbH is governed exclusively by German law.

Monega ARIAD Innovation Fund

WKN: 532102 ISIN: DE0005321020 Kurs: 78.36 € +0.32 % (19.11.2024)

When the Future is Uncertain - have an Edge through Knowledge.

1. The Idea
In Short
Asset Class Equities: particularly in small and midcap companies, Europe/USA/Japan
Investment Goal Achieve marked outperformance in comparison to the relevant market
Investment Idea Identify technological sector leaders on a scientific basis
Implementation Stock selection based on patent portfolio quality and a value approach
Characteristic Use of a scientifically sound patent approach
Portfolio 70-100 stocks, sectors: especially industry, health/pharmaceuticals, technology

Monega ARIAD Innovation - The ARIAD Patent Equity Strategy

Innovations dominate our everyday lives as never before in human history. Buzzwords such as "digitisation", "3D printing", "robotics" or "virtual reality" are omnipresent in the media. Patents protect the "invisible" intellectual capital on the company's balance sheet and create additional sources of income thanks to licensing. The problem:

"How do I identify the future technological sector leaders and the really promising innovations?"


Making intellectual property visible and investable

The ARIAD Patent Equity Strategy is a stock selection method that invests in companies with attractive patent portfolios. The patent portfolio quality is calculated with the help of scientifically sound patent indicators.

Current Press Releases about the Strategy (German)

Outperformance Particularly for Small and Midcap Companies

2. Performance

Takeover Candidates as a Positive Side Effect


The Monega ARIAD Innovation fund has achieved impressive returns in all three regions (Europe, USA and Japan) since the full implementation of the patent strategy in 2015.
Disclaimer: Past Performance Is Not Indicative Of Future Results!

The patent approach is very successful, especially for investments in small and midcap companies*, whose technologically innovative leadership is often only perceived by the market at a later stage ("Hidden Champions"). Accordingly, there is an above-average number of candidates for inclusion in the fund portfolio, which often only come to the attention of analysts after takeover offers from big players are announced and then suddenly leap up in value.

* Investment in small and midcap companies entails greater risks than investment in largecap companies.

Previous Takeovers in the Portfolio

Sorin Group | Kuka | Nobel Biocare | Cameron | Sharp | Broadcom | CSR | B/E Aerospace | Atmel | Arcam AB | Imagination Technology | Wincor Nixdorf | Baker Hughes | e2v | Alcatel-Lucent | Landauer | Rockwell Collins | Grammer AG | Pacific Biosciences | Parrot SA | Array Biopharma | AK Steel Holding | The Medicines Co | IMA S.p.A. | Immunomedics | MobileIron | Genmark Therapeutics | ADVA Optical Networking | Arena Pharmaceuticals | Tenneco | Plantronics/Poly | Haldex | iRobot | BOBST Group | Aerie Pharmaceuticals | SLM Solutions | Albireo Pharma

Current Megatrends in the Portfolio

* The distribution is the dynamic result of the investments following ARIAD's Patent Quality Ranking.

Megatrends

The Investment Idea

3. Investment Idea

Information Headstart Thanks to Patent Portfolio Analysis

The strategy approach is very simple to understand:
Most successful companies achieve their profits by using/licensing/selling innovative products and technologies. Patents protect these innovations and thus enable or safeguard the leading market position.

Since the intellectual capital does not appear on the company's balance sheet, the ARIAD Patent Equity Strategy can generate an information headstart here thanks to intensive preparation and analysis of patent data, which has also been scientifically tested.

Intellectual Capital is Highly Relevant

The value of most companies nowadays is made up mainly of the invisible intangible assets. Although traditional assets, such as factories, machines or property can be found on every company balance sheet, they are only a fraction of the actual company value.

Share in market capitalisation of S&P 500 companies

The demand for adequate protection of "intellectual property" in the form of patents is rising accordingly. The reasons for a tripling of patent applications over recent decades can found on the one hand in increasingly complex products and the growing importance of licensing revenue, and, on the other, in safeguarding against plagiarism and increasing numbers of patent infringement suits.

Patents continue to gain in importance

Scientifically Proven Connection to Company Success

Many scientific studies have already proved that various information about patents acts as an indicator for the future success of a company. Here is a small selection:

  1. Confirmation of the ARIAD Patent Share Strategy

    on the Basis of the ARIAD Patent Data and Indicators: Houdou Basse Mama (2017)

  2. Increase in the Company Value

    Tobin (1969); Wernerfelt u. Montgomery (1988); Lang und Stolz (1994); Bosworth u. Rogers (2001), Lee u. Grewal (2004)

  3. Revenue Growth

    Powell u. Dent-Micallef (1997); Spanos u. Lioukas (2001); Baum u. Wally (2003); Wiklund u. Shepherd (2003); Desarbo et al. (2005)

  4. Overall Profitability

    Penner-Han u. Shaver (1995); Baum u. Wally (2003); De Carolis (2003); Tanriverdi u. Venkatraman (2005)

The Investment Process in Detail

4. The Process

This is How We Identify Promising Companies

Patent data makes potential innovations visible even before they are launched on the general market. However, not every patent becomes a profitable innovation and the sheer number of patents does not necessarily make a company successful. Using many, scientifically sound patent indicators, Monega ARIAD Innovation's patent approach can analyse and assess the quality of the patent portfolio.

Our patent database comprises more than 80 million data sets. However, they first of all have to be processed in a complex process, made usable in quantitative terms, group structures have to be researched and patents correctly assigned to the quoted parent company. Further steps include calculating and weighting patent indicators in order to finally receive the qualitative assessment of the patent portfolio.

On the basis of this information, from a total of more than 5,000 companies with patents, the ARIAD Patent Share Strategy selects around 200 companies whose patent portfolios are the most promising (company ranking). Of these 200 companies, those that have the best opportunity/risk ratio according to the value approach are included in the strategy portfolio.

Fund Data

5. Fund Data


Fund Data and Conditions

Monega ARIAD Innovation (R)
Listing date 02.04.2001 (Strategy Change, start turnover : 01.07.14)
WKN 532102
ISIN DE0005321020
Fund currency EUR
End of financial year 31.08.
Profit Use Distribution
Subscription fee 3,50% (max. 5,00%)
Administrative fee 1,30% (max. 1,50%)
Depository fee 0,08% (max. 0,15%)
Depository HSBC Trinkaus & Burkhardt AG
Investment company Monega KAG
Total Expense Ratio (TER)(1) 1,56%
Minimum investment(2) 0,00€
(1) The Total Expense Ratio states total expenses (with the exception of the transaction costs), with respect to the average fund assets within a financial year.
(2) In addition, the relevant conditions of the depository or your house bank apply.


Opportunities and Risks

Opportunities

  • Technical progress has never been as fast as it is today. Patents, which grant the right to make economic use of an invention, play a key role in this development.
  • Monega ARIAD Innovation invests in companies with an attractive patent portfolio. Shares in companies with a low market value are preferred. Shares in small/midcaps are mainly included.
  • Broad diversification thanks to investment in companies in various sectors. Regional diversification thanks to investment in the USA, Europe and Japan.
  • From a total of 5,000 companies with patents, around 70 - 100 companies with the most promising patent portfolios are filtered out.
  • Fund advice from ARIAD Asset Management.
  • As a mixture for opportunity-oriented investors for long-term investments.

Risks

  • Share risk: In our experience, shares are subject to strong price fluctuations and thus there is a risk of price drops.
  • Interest change risk: The risk of the market interest rate changing during the term of the securities being held is associated with investments in fixed interest securities.
  • Value change risk: As a result of investing the fund assets in individual securities, there is in particular the risk of value changes to the individual items.
  • Capital market risk: The price or market value performance of financial products depends, in particular, on the performance of capital markets that are influenced by the world economy and economic and political conditions in the countries concerned.
  • Currency risk: The fund's assets may be invested in a currency other than the fund currency. If the value of this currency falls against the fund currency, the value of the fund asset falls.
  • Counterparty default risk: Losses may arise for the fund from the default of an issuer or a contracting partner against whom the fund has claims.
  • Liquidity risk: The fund may invest some of its assets in securities that are not traded on a stock exchange or a similar market.
  • Derivative risk: The fund uses derivatives, both for investment and for hedging purposes. The increased opportunities go hand in hand with increases risks of losses.
  • Small and Midcap Companies: Investment in small and midcap companies entails greater risks than investment in largecap companies.
6. Documents

Documents


Further Information:
(for professional investors only)

Disclaimer

©2018 ARIAD Asset Management GmbH

This publication is not a sales prospect in the meaning of the law, but a commercial representation that provides further information. It does not constitute a recommendation for action and does not replace individual investment advice by a bank/sales partner or either fiscal or legal counselling. Shares are sold exclusively on the basis of the current sales prospectus and key investor information. These and the current annual and semi-annual reports are available free of charge in German at Monega Kapitalanlagegesellschaft mbH, Stolkgasse 25-45, 50667 Cologne, and on the Internet at www.monega.de. In the sales prospectus, investment objectives, fees, risks and other important fund information are described in detail. Please read this carefully.

The statements on the market situation constitute our own view of the circumstances described. This does not imply any general validity or investment advice or recommendation. The publication may not be construed as a sale offer or an invitation to submit an offer for the purchase of securities, and does not in any way replace the advice required before each stock purchasing decision. The statements made in the publication are subject to change without notice. Despite careful selection of sources and examination of the contents, ARIAD Asset Management GmbH assumes no liability or guarantee for the correctness and completeness of the information provided in this publication.