Monthly Innovative Technology Market Report May 2020

HANetf & GinsGlobal Index Funds, Inc. HAN – GINS Innovative Technology UCITS ETF ITEK 59bps IE00BDDRF700 Fund Inception Date: 05/10/2018

For Professional Clients Only. Capital at Risk.

ITEK Monthly Performance

April

YTD*

12 Month**

14.14%

-2.19%

5.20%

Past performance is no guarantee of future performance.

Source: Bloomberg/HANetf

*YTD figures based on 01.01.20 - 30.04.20

**12 Month figures based on 01.05.19 -30.04.20

Key Takeaways

Many innovative technologies have been leading beneficiaries of the Covid-19 global lockdown (Robotics, Genomics, Cloud).

Working remotely has also created increased demand and traffic across Social Media and Cybersecurity. Medical technology also increasingly popular.

Performance Review

HAN – GINS Innovative Technology UCITS ETF (ITEK) hit an all-time high during the middle of the quarter, reaching $9.80 in February.

April saw an impressive recovery of just over 14%. By the end of April losses for the year 2020 were down to just over 2%. The current COVID-19 lockdown and move to remote working has boosted demand for various Technology subthemes included in ITEK. Automated & remote services were the major beneficiaries.

Over the past 12 months, ITEK has gained over 5%, due its equally weighted construction across 8 subthemes. Performance across all 6 subthemes currently populated - has been remarkably steady. The 1st quarter table below shows the performance comparison (all single digit losses).

Sub-Theme Performance – 1st Quarter 2020 Contribution Total Return (%)

Cyber Security -0.35

Genomics -1.19

Cloud Computing -1.86

Social Media -3.36

Future Cars -3.64

Robotics & Automation -3.91

Past performance is no guarantee of future performance Source: Solactive Fact Set. Data as of 31/03/20 (Q1 of 2020)

Monthly Innovative Technology Market Report May 2020

6

6.5

7

7.5

8

8.5

9

9.5

10

10.5

01/01/2020 31/01/2020 01/03/2020 31/03/2020 30/04/2020

HAN–GINS Innovative Technology UCITS ETF Performance - YTD (01.01.20 - 30.04.20)

Innovative Technology News

The Coronavirus pandemic is helping to boost adoption rates across a variety of innovative technologies. Big Tech has benefited from growth of their remote Cloud platforms – particularly leaders in Infrastructure as a Service (IaaS) – Amazon, Microsoft and Google. We have also witnessed spiking demand for data and privacy protection – boosting Cybersecurity stocks. This demand comes from both the public sector (schools, governments, hospitals) and large/small players in the private sector. The likes of Adobe, salesforce, SAP and Oracle are big beneficiaries of this rollout of Cloud’s plumbing. Cloud spending is benefiting at the expense of other IT areas. The flexibility and lower-cost subscription model offered by the Cloud – makes it increasingly an easy solution for many corporate IT departments. In line with the race for a medical vaccine and the demand for healthcare solutions – genomics and the field of gene editing has received a large amount of attention. With COVID-49’s genetic code now being known – genomics companies are at the forefront of vaccine research and possible human trials being conducted globally. Remote working is ensuring key tech trends are being adopted even sooner than analysts expected. From telemedicine and medical wearables to cloud computing and AI/Robotics. The world is changing fast – businesses, hospitals and consumers are unlikely to go back to pre-COVID19 habits. The increasing shift to the cloud – has also led to a sizable increase in demand for cybersecurity companies. A number of our holdings benefited from the growth in VPN and other forms of security software licenses being bought by large and small enterprises.

In China and Europe their lockdowns are also spurring local players (Alibaba, Baidu and Tencent) to enjoy record online traffic. Baidu and Weibo have both seen a substantial increase in traffic due to the lockdown in China. Other players including Facebook and the Meet Group have enjoyed record usage – powering stock market gains.

With behaviors likely to change amongst commuters – the future car segment powered by Tesla has enjoyed a significant rerating in April. Analysts predict EV vehicle producers are better positioned to weather the current economic decline. Tesla shares have recovered significantly since its March lows – and are approaching recent highs, despite Elon Musk’s protestations. Source: https://www.cnbc.com/2020/04/02/tesla-tsla-1q-2020-production-and-delivery-numbers.html

Performance before inception is based on back tested data. Back testing is the process of evaluating an investment strategy by applying it to historical data to simulate what the performance of such strategy would have been. Back tested data does not represent actual performance and should not be interpreted as an indication of actual or future performance. Past performance for the index is in USD. Past performance is not an indicator for future results and should not be the sole factor of consideration when selecting a product. Investors should read the prospectus of the Issuer (“Prospectus”) before investing and should refer to the section of the Prospectus entitled ‘Risk Factors’ for further details of risks associated with an investment in this product. Source: Bloomberg. Data as of 30/04/20 (Bloomberg daily NAV data published on Bloomberg)

NA

V

Monthly Innovative Technology Market Report May 2020

Year to date performance has been largely powered by the Healthcare Innovation, Cloud and Cybersecurity subthemes as seen in this table

Rank

(based on Sharpe Ratio)

2015 2016 2017 2018 2019 2020 ytd 2015 – 2020

ytd

1 Health & Biotech 1

Robotics 1 Robotics 1 Cyber

Security Fintech

Health & Biotech 2

Robotics 2

0.75

2 Health & Biotech 2

Robotics 2 Robotics 2 Fintech Cloud &

Digital 1

Health & Biotech 1

Cloud & Digital 1

0.7

3 Cars & Battery

2 Cars & Battery

1 ITEK

Cloud & Digital 1

Cloud & Digital 2

Cloud & Digital 1

ITEK

0.71

4 Fintech Cloud & Digital

1 Health & Biotech 1

Health & Biotech 1

Robotics 2 ITEK Fintech

0.66

5 ITEK Fintech Cars & Battery

1 Health & Biotech 2

ITEK Cyber

Security

Health & Biotech 1

0.65

6 Cloud & Digital

1 ITEK

Cloud & Digital 2

Cloud & Digital 2

Robotics 1 Robotics 2

Cyber Security

0.51

7 Cars & Battery

1 Cars & Battery

2 Cars & Battery

2 Robotics 2

Cyber Security

Cars & Battery 2

Health & Biotech 2

0.48

8 Cloud & Digital

2 Cloud & Digital

2 Fintech ITEK

Cars & Battery 2

Fintech Robotics 1

0.45

9 Robotics 2 Cyber

Security Cloud & Digital

1 Robotics 1

Cars & Battery 1

Cloud & Digital 2

Cars & Battery 2

0.45

10 Cyber

Security Health & Biotech 1

Health & Biotech 2

Cars & Battery 2

Health & Biotech 1

Robotics 1

Cloud & Digital 2

0.42

11 Robotics 1 Health & Biotech 2

Cyber Security

Cars & Battery 1

Health & Biotech 2

Cars & Battery 1

Cars & Battery 1

0.30

For illustrative purposes only Source Bloomberg/HAN data 24 April 2020, based on Sharpe Ratio

Monthly Innovative Technology Market Report May 2020

Constituent News

The benchmark is increasingly global – with US constituents now representing less than a 60% total weighting. Asia’s weighting is now at 25% followed by Europe at 14% approximately. (Source HANetf).

The weakest performing subtheme so far in 2020 has been Future Cars and Robotics. By contrast our Cloud Technology, Genomics (Healthcare) and Cybersecurity holdings have performed best.

Tesla has recovered well from its earlier lows around $400, after exceeding delivery expectations. It was trading at $781 by the end of April. NVIDIA in the robotics and automation areas has also benefited from the recent Tesla rerating, after posting positive earnings. (www.bloomberg.com)

For 2020 to date Biontech has been the best performer, benefiting from its involvement in a possible COVID-19 vaccine. Cybersecurity players ZScaler, Norton and Crowdstrike have all posted significant gains too – based on the growth of VPN and related security licenses bought by corporations with large numbers of staff working remotely from home. Cloud players from IBM and Amazon to Microsoft and Equinox have experienced their highest levels of online traffic. Microsoft reported onboarding as many cloud customers in just 2 months versus all of the past 2 years.

Top 10 Performance Contributions- Q1 2020

For the first quarter the Top 10 Performance Contributions were as follows: These holdings were well represented across all 6 subthemes that currently qualify.

Company Sub Theme % Weight Total Return (%) Contribution to

Return (%)

BIONTECH SE Genomics 0.45 74.43 0.86

TESLA INC Future Cars 2.35 25.26 0.49

ZSCALER INC Cyber Security 0.91 30.88 0.38

MEET GROUP INC/THE Social Media 1.83 17.17 0.24

YUAN LONGPING HIGH-TECH AG-A Genomics 1.41 21.07 0.23

CROWDSTRIKE HOLDINGS INC - A Cyber Security 0.25 21.73 0.23

BEIJING SINNET TECHNOLOGY-A Cyber Security 1.30 17.19 0.18

NORTONLIFELOCK INC Cyber Security 0.73 15.19 0.13

IOVANCE BIOTHERAPEUTICS INC Genomics 1.17 8.15 0.12

FERRARI NV Future Cars 0.29 10.77 0.12

Past performance is no guarantee of future performance Source: Solactive Fact Set. Data as of 31/03/20 (Q1 of 2020)

Top 10 Constituents Weight

Regeneron Pharmaceuticals Inc 6.10% Biogen Inc 5.20% Edwards Lifesciences Corp 4.72% Dexcom Inc 4.26% Medtronic PLC 4.12% Intuitive Surgical Inc 4.06% Boston Scientific Corp 3.77% Illumina Inc 3.70% Zimmer Biomet Holdings Inc 3.49% Agilent Technologies Inc 3.43%

Region Breakdown Weight

North America 59.84% Asia 25.25% Europe 13.78% MENA 1.13%

Sub-Theme Breakdown Weight

Cloud 17.00% Cybersecurity 16.60% Future Cars 16.03% Genomics 17.70% Robotics & Automation 16.65% Social Media 16.01%

Source: Bloomberg / HANetf. Data as of 30/04/20

Monthly Innovative Technology Market Report May 2020

Webinars

Please see the latest webinar on SKYY ‘Cloud technology: The ETF Investment Case Updated’ here : https://register.gotowebinar.com/recording/1857845204201746703

Please see upcoming webinars here www.hanetf.com/webinars

Fund Details

HAN-GINS Innovative Technology UCITS ETF (ITEK) is a UCITS compliant Exchange Traded Fund domiciled in Ireland. ITEK tracks the Solactive Innovative Technologies Index (Net Total Return), an index of leading companies that are driving innovation in sectors including Robotics & Automation, Cloud Computing & Big Data, Cyber Security, Future Cars, Genomics, Social Media, Blockchain and Augmented & Virtual Reality.

The Solactive Index is managed according to a published, rules-based methodology. It is designed to measure the performance of an investable universe of publicly-traded companies that are involved in innovative and disruptive technological trends across a broad range of industries mentioned. To be included, companies must derive a majority of revenue from one of these themes.

Please remember that the value of your investment may go down as well as up and past performance is no indication of future performance. • ITEK Factsheet • ITEK Video • ITEK Fund Page

EXCHANGE

BB CODE

RIC

ISIN

CURRENCY

INCOME

London Stock Exchange ITEK LN ITEK.L IE00BDDRF700 USD Acc

London Stock Exchange ITEP LN ITEP.L IE00BDDRF700 GBP Acc

Borsa Italiana ITEK IM ITEK.MI IE00BDDRF700 EUR Acc

XETRA T3KE GY T3KE.DE DE000A2N5XE0 EUR Acc

ITEK Fund News

Recent Rebalance:

6th March 2020

Eleven new securities were added to ITEK, during the rebalance. The total number of holdings was maintained at the same level - approximating 90 underlying securities. The next rebalance takes place in early September 2020 (semi-annual).

Recent Additions:

• SANGFOR TECHNOLOGIES INC-A • SHENZHEN GOODIX TECHNOLOGY-A • WILL SEMICONDUCTOR LTD • BRISTOL-MYERS SQUIBB CO • BIONTECH SE • ZAI LAB LTD

Next Rebalance The next re-balance will take place on 7th September 2020

• CROWDSTRIKE HOLDINGS INC • GDS HOLDINGS LTD • HEXAGON AB CLASS B • FERRARI NV • SAP SE

Monthly Innovative Technology Market Report May 2020

Press

Recent Press Releases

• HAN-GINS Global Innovative Technology ETF – ITEK Added Ferrari NV in Recent Rebalance & FAANGS Less than 5%

• For more press www.hanetf.com/press-releases

• For article and insights please visit www.hanetf.com/news-and-insights

• Also available on www.ginsglobal.com

About HANetf

HANetf is an independent ETF specialist working with third-party asset managers to bring differentiated, modern and innovative ETF exposures to European investors via unique white-label ETF/ETC platform.

Founded by two of Europe’s leading ETF entrepreneurs, Hector McNeil and Nik Bienkowski, HANetf provides a complete operational, regulatory, distribution and marketing solution for asset managers who want to successfully launch and manage UCITS ETFs.

HANetf’s full products list includes:

Product Name Ticker ISIN Sedol

Emerging Markets Internet & Ecommerce UCITS ETF EMQQ IE00BFYN8Y92 BYVJ906

HAN-GINS Innovative Technologies UCITS ETF ITEK IE00BDDRF700 BYVJ8Y3

HAN-GINS Cloud Technologies UCITS ETF SKYY IE00BDDRF924 BYVJ8T8

FTSE Kuwait Equity UCITS ETF KUW8 IE00BGPBV544 BGY9KV5

HAN-GINS Indxx Healthcare Innovation UCITS ETF WELL IE00BJQTJ848 BJVBGL7

The Medical Cannabis & Wellness UCITS ETF CBDX IE00BG5J1M21 BGSXSL9

The Royal Mint Physical Gold ETC RMAU XS2115336336 BKT7175

For further information, please visit www.hanetf.com.

Anthony Ginsberg, GinsGlobal

Anthony Ginsberg is the co-creator of The HAN-GINS Cloud Technology UCITS ETF (SKYY), enabling investors to gain exposure to the top 50 cloud companies across Developed and Emerging markets. SKYY tracks a rules-based index that uses artificial intelligence to identify and select companies involved in the field of cloud computing. Anthony Ginsberg is the Managing Director of GinsGlobal Investment Management, a global asset management company offering a broad range of innovative index-linked products, for both retail and institutional investors. GinsGlobal designs index products for a number of leading financial institutions, including global insurers, banks and asset managers. GinsGlobal was founded in 2000 and has operations in North America, Africa, Middle East and Asia-Pacific.

Monthly Innovative Technology Market Report May 2020

Important Information

The content in this document is issued by HANetf Limited (“HANetf”), an appointed representative of Mirabella Advisers LLP, which is authorised and regulated by the Financial Conduct Authority (“FCA”). For professional clients only. Past performance is not a reliable indicator of future performance. Any historical performance included on this document may be based on back testing. Back testing is the process of evaluating an investment strategy by applying it to historical data to simulate what the performance of such strategy would have been. Back tested performance is purely hypothetical and is provided on this document solely for informational purposes. Back tested data does not represent actual performance and should not be interpreted as an indication of actual or future performance. The value of any investment may be affected by exchange rate movements.

Any decision to invest should be based on the information contained in the appropriate prospectus and after seeking independent investment, tax and legal advice. These products may not be available in your market or suitable for you. The content of this document does not constitute investment advice nor an offer for sale nor a solicitation of an offer to buy any product or make any investment. An investment in an ETF is dependent on the performance of the underlying index, less costs, but it is not expected to match that performance precisely. ETFs involve numerous risks including among others, general market risks relating to the relevant underlying index, exchange rate risks, interest rate risks, inflationary risks, liquidity risks and legal and regulatory risks.

The information contained on this document is not, and under no circumstances is to be construed as, an advertisement or any other step in furtherance of a public offering of shares in the United States or any province or territory thereof, where none of the Issuers or their products are authorised or registered for distribution and where no prospectus of any of the Issuers has been filed with any securities commission or regulatory authority. No document or information on this document should be taken, transmitted or distributed (directly or indirectly) into the United States. None of the Issuers, nor any securities issued by them, have been or will be registered under the United States Securities Act of 1933 or the Investment Company Act of 1940 or qualified under any applicable state securities statutes. The products discussed on this document are issued by HANetf ICAV.

This document may contain forward looking statements including statements regarding our belief or current expectations with regards to the performance of certain assets classes and/or sectors. Forward looking statements are subject to certain risks, uncertainties and assumptions. There can be no assurance that such statements will be accurate and actual results could differ materially from those anticipated in such statements. Therefore, readers are cautioned not to place undue reliance on these forward-looking statements. HANetf ICAV is an open-ended Irish collective asset management vehicle which is constituted as an umbrella fund with segregated liability between sub-funds and with variable capital organised under the laws of Ireland and authorised by the Central Bank of Ireland (“CBI”). Investors should read the prospectus of HANetf ICAV (“HANetf Prospectus”) before investing and should refer to the section of the HANetf Prospectus entitled ‘Risk Factors’ for further details of risks associated with an investment in the Shares.