DRESCHER & CIE FONDSRADAR | EMERGING MARKETS EQUITY MOBIUS EMERGING MARKETS FUND - APRIL 2021 - DIE FONDSPLATTFORM
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Drescher & Cie FondsRadar | Emerging Markets Equity
Mobius Emerging Markets Fund
14. April 2021
© Mobius Capital Partner 2021
Mobius Capital Partners – Das Team
Schwellenländer-Pioniere seit 1987
Dr Mark Mobius Carlos von Hardenberg
Founding Partner Founding Partner
40 Jahre EM-Erfahrung 21 Jahre EM-Erfahrung
Co-Portfolio Manager Lead Portfolio Manager
Marcin Lewczuk Usman Ali Max Sporer Anna von Hahn Nina Burness
Analyst Analyst Analyst Operations & Administration &
Investor Relations Operations
TRACK RECORD: Templeton Emerging Markets Investment Trust
3000
Unter der Führung von Dr Mark Mobius und Carlos von Hardenberg
2500
Templeton Emerging Markets Investment Trust: +2522%
Wertsteigerung
2000
MSCI Emerging Markets Index: +1214%
+1308%
1500
1000
500 Carlos von Hardenberg übernahm als Lead PM
von Dr Mark Mobius am 1. Oktober 2015
0
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014
© Mobius 2016
Capital Partners 2018
LLP 2021
MEMF Performance Stand 31. März 2021
Mobius SICAV Founder EUR (NAV) Mobius SICAV Founder USD (NAV)
130
120
110
100
90
80
Seit Auflage 2020 Q1 2021
70 +25.5% +18.7% +6.3%
60
M 20
N 20
Ja 20
Se 2 0
N 18
Ja 18
N 19
M 19
Ja 19
S e 19
Ju 0
A 20
Fe 20
M 20
O 20
Ju 20
Ju 0
D 20
A 20
Fe 21
M 21
A 19
1
18
Fe 19
O 19
D 18
Ju 9
D 19
M 19
Ju 19
A 19
.2
1
2
2
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b.
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är
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Quelle: Bloomberg
© Mobius Capital Partners LLP 2021 ⸸ Auflagedatum: 24/09/2018 3
Performancezahlen (seit Auflage, 2020, Q1 2021) basieren auf dem NAV der Founders C USD Anteilsklasse 3
Was uns unterscheidet: Unsere Top 5 Holdings*
APL Apollo eMemory Persistent Systems
Market Market Market
Land Sektor Gewicht Index Land Sektor Gewicht Index Land Sektor Gewicht Index
Cap Cap Cap
Indien Industrie 2.4md 8.8% X Taiwan Technologie 2.4md 8.8% X Indien Technologie 2.0md 7.9% X
16 34
14 30 24
12 26 20
22
10
16
18
8
14 12
6
10
4 8
6
2 2 4
Dec-18 Apr-19 Aug-19 Dec-19 Apr-20 Aug-20 Dec-20 Oct-18 Feb-19 Jun-19 Oct-19 Feb-20 Jun-20 Oct-20 Feb-21 Oct-18 Feb-19 Jun-19 Oct-19 Feb-20 Jun-20 Oct-20 Feb-21
APL Apollos Stahlrohre werden im Baugewerbe, sowie bei eMemory’s IP-Lösungen finden unter anderem in Persistent Systems bietet Kunden wie z.B. Salesforce
der Herstellung von Dächern, Toren und Zäunen genutzt Fingerabdruck-Sensoren Verwendung Produkte und Dienstleistungen im Softwarebereich an
Polycab India Yum China
Market Market v Konzentriertes Portfolio
Land Sektor Gewicht Index Land Sektor Gewicht Index
Cap Cap
v Hoher “Active Share” (
Der Mobius Emerging Markets Fund
Länderallokation Sektorallokation
Turkei
6% Gesundheit
Sonstige* 14%
18%
Zyklischer Industrie
China 14%
Konsum
15% 17%
Kommunikation
Südkorea 5%
5% Indien Nicht-Zyklischer
24% Konsum
6%
Sonstige*
6%
Taiwan
20% Technologie
Brasilien 38%
12%
*Sonstige: Südafrika(4.0%), Kenia (3.7%), Malaysia *Sonstige: Finanzen (0.9%), Cash (5.5%)
(2.0%), Vietnam (1.5%), Russland (1.3%), Cash (5.5%) Industrie umfasst Roh- und Grundstoffe
Quelle: Bloomberg, Mobius Capital Partners
© Mobius Capital Partners LLP 2021 Stand 31. März 2021
5
Vom Technologiewandel profitieren
Umsatzzahlen der weltweiten Verkaufszahlen im weltweiten Umsatzzahlen im weltweiten
1990er 2020er Halbleiterindustrie E-Commerce-Sektor Software-Sektor
500
7,000
400 900
300 5,000 700
200
3,000 500
100
0 300
1,000
1993
1990
1996
1999
2002
2005
2008
1987
2011
2017
2014
2020
2025e
2021e
2023e
2016
2019
2022e
2024e
2017
2018
2020
2021e
2022e
2023e
2024e
2015
2017
2018
2014
2016
2019
2020
Unsere Beteiligungen in
Technologie-Sub-Sektoren
Unsere Beteiligungen im
Technologie-Sektor 6
11
51
32
Halbleiter Software
Technologie Andere Elektronik E-Commerce
**in mrd USD
© Mobius Capital Partners LLP 2021 Quelle: Mobius Capital Partners, Statista
Engagement Beispiel
Land Market Cap Gewicht
USD 2.4bn 8.8%
eMemory Technology ist ein Silicon IP-Unternehmen mit Sitz in Taiwan, das sich auf eingebettete, ausfallsichere Speicher (eNVM)
fokussiert. Dieser Speicher wird in das IC eingebettet und für Trimmung, Parametereinstellung, Verschlüsselung, Funktionsauswahl
und Codespeicherung verwendet.
34 Follow-Up Call um
Materialitätsmatrix
zu besprechen
30
Virtuelles Meeting
mit Company
Präsident
26
Call um ESG-
Investor Call, mit Fokus auf ESOP Verbesserungen zu diskutieren
22
Kurs (USD)
18 Diskussion über NDR in
Europa, und laufendes
Engagement eMemory füllt MCP
14 Unternehmenskultur
Fragebogen aus
MCP empfiehlt eine Umfrage
10 zur Identifizierung wesentlicher
ESG-Faktoren und die
Veröffentlichung eines
6 Engagement-Deck mit Nachhaltigkeitsberichts
Fokus auf die Verbesserung
von IR diskutiert
2
Jan. 19 Mär. 19 Mai. 19 Jul. 19 Sep. 19 Nov. 19 Jan. 20 Mär. 20 Mai. 20 Jul. 20 Sep. 20 Nov. 20 Jan. 21 Mär. 21
Quelle: Bloomberg, Mobius Capital Partners, eMemory Technology
© Mobius Capital Partners LLP 2021 7
ESG+C® -Faktoren sind in den Anlageprozess integriert
Re-
Säule 1: Fundamentale Aktienauswahl Säule 2: Engagement
rating
Pre-Investment Post-Investment
Quality Screen Portfolio Active Ownership
Erste Recherche Construktion Umsetzung des Portfolio Review
Deep Dive
Proprietary Engagement-Plans Company review
screen Investmentthese Makro- im gesamten Risiko Management
360⁰ due diligence
Researchtrips und Makroanalyse ökonomisches Portfolio mit Fokus
mit Integration von
Konferenzen Dashboard auf ESG+C®
ESG+C® Faktoren
Team Collaboration & Macro Overlay
Unser ESG+C Ansatz
• Unser ESG-Ansatz ist insofern einzigartig, als
dass wir Unternehmen nicht bewerten oder
Pool of Interest Watchlist Investment Konzentriertes Ratings verwenden - unser Prozess ist
Recommendation Portfolio proprietär und maßgeschneidert.
400 stocks 150 stocks
20-30 stocks • Unser Fokus auf Materialität ermöglicht es
uns, Unternehmen unter Berücksichtigung der
lokalen Gepflogenheiten und Vorschriften zu
analysieren und zu vergleichen.
• Wir legen einen Schwerpunkt auf
Unternehmenskultur, die wir als einen
wichtigen Performance Treiber sehen.
© Mobius Capital Partners LLP 2021 8
Unser Ausblick für Schwellenländer bleibt positiv
Märkte erweisen sich als relativ widerstandsfähig gegenüber Starkes Wachstum insbesondere in EM**
Inflationserwartungen*
140
Emerging and Developing
Advanced Economies
Economies
120 8 % GDP 6 % GDP
6 4 5.1
6.7 3.6
100 4 5.0 2
2 0
0 -2
80 -2
-2.2
-4 -4.7
-4 -6
60 2020 2021 2022 2020 2021 2022
Emerging and Developing
40 India
Asia
10 % GDP 15 % GDP
20 8
8.6 10 12.5
Treasury Bill 10 Year S&P 500 6
5 6.9
0 4 6.0
0
2
0
0
Fe 21
M 21
Fe 0
M 20
O 0
1
Ju 0
Ja 9
20
Se 0
Ju 0
0
20
Ja 0
-2
-5
-2
-2
-2
-2
-2
-1
-8.0
2
-2
-2
-2
0
-
b-
b-
l-
g-
r-
-1.0
ar
n
ec
ar
ay
ct
n
n
ov
p
ec
p
u
D
D -2 -10
M
A
N
A
2020 2021 2022 2020 2021 2022
Why Wachstum Bewertungen Währungen
Konjunktur- Erholung EM
programm Handel Themen
Now
Quelle: Bloomberg/IMF World Economic Outlook
© Mobius Capital Partners LLP 2021 * 10 Year Treasury Bill Yield/S&P500 rebased as of 31.12.2019 9
**Real GDP, annual percent change
Bitte kontaktieren Sie uns bei Fragen unter:
Anna von Hahn
Email: anna@mobiuscapitalpartners.com
Phone:+44 203 829 85 05
Mobile: +44 7852 882 770
www.mobiuscapitalpartners.com
© Mobius Capital Partners LLP 2021ESG+C Reporting: Unser Factsheet
www.esgplusc.com
Beobachtungen im Portfolio
Aktienoptionsplan (86%)
Starke regionale Unterschiede:
• EMEA - (50%)
• Asien - (94%)
• Lateinamerika - (100%)
Glassdoor-Wert (3.63)
76% unserer Portfoliounternehmen
haben einen Glassdoor-Wert. 2020 lag
der weltweite Schnitt bei 3.5. Werte von
0 (am schlechtesten) bis 5 (am besten).
Global Reporting Initiative Reports (42%)
Starke regionale Unterschiede:
• EMEA – (50%)
• Asien (22%)
• Lateinamerika- (100%)
Quelle: glassdoor.com/about-us/best-places-to-work-2020
© Mobius Capital Partners LLP 2021 Stand 31. März 2021 11
11Mobius Emerging Markets Fund - Anteilsklassen
Anteilsklasse ISIN Ongoing Charges Management Fee Performance Fee
Founders C USD LU1846740923 1.1% 0.8% 15%*
Founders C EUR LU1851963725 1.1% 0.8% 15%*
Institutional C USD LU1846740766 1.3% 1.0% 15%*
Institutional C EUR LU1851963212 1.3% 1.0% 20%**
Retail D USD LU1846739750 2.3% 1.2% 15%*
Retail D EUR LU1846739917 2.3% 1.2% 15%*
Retail C EUR LU1846740097 1.5% 1.2% 15%*
© Mobius Capital Partners LLP 2021 *with hurdle rate at 7%
**above the MSCI EM Mid Cap Index with HWM 12IMPORTANT NOTICE
This presentation does not constitute a prospectus or an offer in respect of any securities and is not intended to provide the basis for any decision in respect of the Fund. An investment decision must
be made solely on the basis of the prospectus to be issued by Mobius SICAV (the "Fund"). This presentation has been prepared solely to provide a basis for potential investors to consider whether to
pursue an acquisition of shares. No information in this document should be construed as providing financial, investment or other professional advice.
No reliance may be placed, for any purposes whatsoever, on the information contained in this presentation or on its completeness and this presentation should not be considered a recommendation
by Mobius SICAV (the "Fund"), Mobius Capital Partners LLP ("Mobius") or DZ Privatank (Luxembourg) S.A. (”DZ") or any of their respective affiliates in relation to any subscription for securities
of the Fund. No representation or warranty, express or implied, is given by or on behalf of the Fund, Mobius or DZ, or any of their respective directors, partners, officers, employees, advisers or any
other persons as to the accuracy, fairness or sufficiency of the information or opinions contained in this presentation. Save in the case of fraud, no liability is accepted for any errors, omissions or
inaccuracies in such information or opinions.
This presentation includes forward-looking statements. These forward-looking statements include all matters that are not historical facts, statements regarding the Fund's intentions, beliefs or
current expectations concerning, among other things, the Fund's results of operations, financial condition, prospects, strategies and the industry in which the Fund will operate. By their nature,
forward-looking statements involve risks and uncertainties. You are cautioned that forward-looking statements are not guarantees of future performance and that the Fund's actual results of
operations, financial condition and the development of the industry in which the Fund operates may differ materially from those made in or suggested by the forward-looking statements contained in
this presentation. Past performance is not a guide to future performance.
This presentation is being made on the basis that the recipients keep confidential any information contained herein or otherwise made available, whether orally or in writing, in connection with the
Fund. This presentation must not be copied, reproduced, published, distributed, disclosed or passed to any other person at any time without the prior written consent of Mobius. By accepting this
presentation you will be taken to have represented, warranted and undertaken that: (i) you have read and agree to comply with the contents of this notice; and (ii) you will treat and safeguard as
strictly private and confidential all the information contained herein and take all reasonable steps to preserve such confidentiality.
This presentation is directed only at (i) within the EU, "professional clients" or "eligible counterparties" within the meaning of MiFID II Directive (2014/65/EU); or (ii) outside the EU, persons to
whom it is lawful to make the presentation. Persons who fall outside category (i) above must check that they fall within category (ii); if they do not, they may not attend this presentation. Any person
who does not fall within categories (i) and (ii) above may not rely on or act upon the matters communicated at this presentation. Any person falling outside categories (i) to (ii) who has received any
document forming part of this presentation must return it immediately.
The shares have not been and will not be registered under the United States Securities Act of 1933 (as amended) (the "Securities Act") or with any securities regulatory authority of any state or other
jurisdiction of the United States, and, subject to certain exceptions, may not be offered or sold within the United States or to, or for the account or benefit of, US Persons (as defined in Regulation S
under the Securities Act). In addition, the Fund has not been and will not be registered under the US Investment Fund Act of 1940, as amended, and the recipient of this presentation will not be
entitled to the benefits of that Act.
This presentation does not constitute an offer to sell, or the solicitation of an offer to acquire or subscribe for, shares in any jurisdiction where such offer or solicitation is unlawful or would impose
any unfulfilled registration, qualification, publication or approval requirements on the Fund, Mobius or DZ. The offer and sale of shares has not been and will not be registered under the applicable
securities laws of Australia, Canada or Japan. Subject to certain exemptions, the shares may not be offered to or sold within Australia, Canada or Japan or to any national, resident or citizen of
Australia, Canada or Japan.
Source: MSCI. The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any
financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of
investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The
MSCI information is provided on an “as is” basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person
involved in or related to compiling, computing or creating any MSCI information (collectively, the “MSCI Parties”) expressly disclaims all warranties (including, without limitation, any warranties of
originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no
event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.msci.com)
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