Digital Payments Economy
UCITS ETF (PMNT)
Key Documents
FUND SUMMARY
The Rize Digital Payments Economy UCITS ETF seeks to invest in companies that potentially stand to benefit from the structural transition away from traditional cash payments to the speed and convenience of digital wallets, digital payments and digital currencies. The ETF seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Foxberry Digital Payments Economy Index.
KEY INFORMATION
- AUM ($USD): 10,781,418
- TER: 0.45%
- ISIN: IE00BLRPRQ96
- Base Code: PMNT
- SFDR Classification: Article 8
- MSCI ESG Rating: A
INVESTMENT CASE
When people discuss the future of payments, they tend to predict the end of cash. Our view is different. We do not believe that cash will completely go away, but we do recognise that a new, powerful economy for digital payments is being born. An economy that offers speed, agility and convenience, and instils a sensibility that payments can happen seamlessly in the background as we hop in and out of Ubers. We can deduce much about the future of payments from the developing world, where digital wallets abound and have helped integrate thousands of unbanked communities. In the West, ecommerce growth, enthusiastic adoption of transparent payment experiences, and alternative payment methods are driving non-cash transaction momentum, merging with technologies like wearables, biometrics and blockchain, and challenging traditional banks – institutions that have long monopolised payment networks and hindered innovation and technological progress. Fortunately, these strangleholds are now unravelling. COVID-19, especially, has catalysed a cross-generational shift toward contactless payments and digital currencies. Our pioneering investment strategy and ETF – Europe’s new digital payments economy ETF – provides investors with exposure to companies that are creating this digital-first payments economy of tomorrow. The FinTech revolution is ushering in a new era in the way the world pays. For investors, this presents an opportunity.
WHY PMNT?
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Favourable Growth Prospects
PMNT is Europe’s new digital payments economy ETF, and provides investors with exposure to companies that are leading the structural transition toward online and digital payments, digital wallets and digital currencies.
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Powered by Euromonitor®
PMNT is purpose-built in collaboration with Euromonitor, a strategy research firm based in London, United Kingdom, and leverages their unique insights and proprietary classification system of companies that are leaders and innovators in the digital payments economy.
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Unconstrained Approach
PMNT’s composition transcends classic sector, size and geographic classifications by tracking an emerging theme.
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ETF Efficiency
In a single trade, PMNT delivers access to dozens of companies that are favourably positioned to ride the tailwinds of the digital payments economy theme.
Thematic Classification
PMNT invests in companies within the 5 sub-sectors of the Digital Payments Economy thematic classification built in partnership with strategy research group Euromonitor. The classification is an enabling taxonomy designed for the investment and research communities with the aim of identifying the key disruptive forces in FinTech and related companies and business activities that are powering the rise of our global digital payments economy.
DIGITAL PAYMENTS ECONOMY
Card Payment Networks
Payment Processors
Payment Infrastructure Providers
Payment Services and Solutions Providers
Digital/Crypto Currency Pioneers
Performance
Capital at risk. Past performance is not a reliable indicator of future results. The value of your investment and income generated will vary, your initial investment amount cannot be guaranteed. The return of your investment may increase or decrease as a result of currency fluctuations.
| Cumulative | ETF | Index | Tracking Difference |
|---|---|---|---|
| Year to date | |||
| 1 month | |||
| 3 months | |||
| 6 months | |||
| 1 year | |||
| Inception |
Capital at risk. Past performance is not a reliable indicator of future results. The value of your investment and income generated will vary, your initial investment amount cannot be guaranteed. The return of your investment may increase or decrease as a result of currency fluctuations.
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Top 10 Holdings
| Name | ISIN | Weight | CCY |
|---|---|---|---|
| COINBASE GLOBAL INC COM CL A | US19260Q1076 | 3.38 | USD |
| REMITLY GLOBAL INC COM | US75960P1049 | 3.29 | USD |
| NUVEI CORP SUBORDINATE VTG SH | CA67079A1021 | 2.96 | CAD |
| SHIFT4 PMTS INC CL A | US82452J1097 | 2.87 | USD |
| FLYWIRE CORP COM VTG | US3024921039 | 2.69 | USD |
| DLOCAL LTD COM USD0.002 CL A | KYG290181018 | 2.53 | USD |
| PAYONEER GLOBAL INC COM | US70451X1046 | 2.41 | USD |
| BLOCK INC | US8522341036 | 2.35 | USD |
| EVO PMTS INC CL A COM | US26927E1047 | 2.16 | USD |
| VISA INC COM CL A | US92826C8394 | 2.15 | USD |
Full Fund Holdings
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Fund Details
| Net Assets | USD 10,781,418 |
| NAV per share | USD 3.1494 |
| Shares Outstanding | 3,423,305 |
| Total Expense Ratio | 0.45 |
| Inception | 05/11/2021 |
| ISIN | IE00BLRPRQ96 |
| Base Code | PMNT |
| Base Currency | USD |
| Index Name | Foxberry Digital Payments Economy Index / FXBYPMNT |
| Thematic Classification | Euromonitor’s Classification for the Digital Payments Economy |
| Index Replication Method | Physical – full replication |
| Income Treatment | Accumulating |
| No. of holdings | 65 |
| UCITS | Yes |
| Domicile | Ireland |
| Issuer | Rize UCITS ICAV |
| Promoter | Rize ETF Limited |
| Manager | IQ EQ Fund Management (Ireland) Limited |
| Investment Manager | IQ EQ Fund Management (Ireland) Limited |
| Depositary / Custodian | Northern Trust Fiduciary Services (Ireland) Limited |
| ISA Eligible (UK) | Yes |
| SIPP Eligible (UK) | Yes |
| Reporting Fund Status (UK) | Yes |
| Equity Fund (DE) | Yes |
| SFDR Classification | Article 8 |
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Registrations
- Austria
- Denmark
- Finland
- Germany
- Ireland
- Italy
- Luxembourg
- Netherlands
- Norway
- Spain
- Sweden
- Switzerland
- United Kingdom
Listings
| Exchange | Currency | Listing Date | SEDOL | Bloomberg Ticker | RIC |
|---|---|---|---|---|---|
| Borsa Italiana | EUR | 01-Dec-21 | BNM5H24 | PMNT IM | PMNT.MI |
| Deutsche Börse Xetra | EUR | 11-Nov-21 | BNM5H35 | PMNT GY | PMNTG.DE |
| London Stock Exchange | USD | 11-Nov-21 | BNM5GZ0 | PMNT LN | PMNT.L |
| London Stock Exchange | GBP | 11-Nov-21 | BNM5H02 | PAYG LN | PAYG.L |
| SIX Swiss Exchange | CHF | 10-Jan-22 | BNM5H13 | PMNT SE | PMNT.S |
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Research & Insights
Risks
All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed.
As many of the companies invested in by PMNT are technology-focussed, PMNT is vulnerable to a cyclical decline in the value of the technology sector as a whole.
Individual companies are subject to intense competition that may negatively impact their revenues and market values and therefore PMNT's value.
PMNT also invests in small publicly-traded companies which may be less mature and therefore more vulnerable to adverse business or economic events and greater and more unpredictable price changes than larger companies, the technology sector as a whole or the stock market as a whole.
PMNT invests in global equity securities. As such, there is a risk of loss arising from exchange rate fluctuations or exchange control regulations.
Other: (1) Third-party service providers (such as the ICAV’s depositary) may go bankrupt and fail to pay money due to PMNT or return property belonging to PMNT. (2) If the Index provider stops calculating the Index or if PMNT's license to replicate the Index is terminated, PMNT may have to be closed. (3) It may not always be possible to buy and sell PMNT's Shares on a stock exchange or at prices closely reflecting the Net Asset Value. (4) There is no capital guarantee or protection on the value of PMNT and investors can lose all the capital invested in PMNT. (5) Please refer to the “Risk Factors” section of the ICAV’s Prospectus and the Fund Supplement.
