For most people in the developed world it feels like a large part of their daily life has
already shifted to the digital world. The average person in the United States spends
almost 6 hours a day online; they spend more than half of that time online through a
smartphone or another mobile device (eMarketer, 2016). According to Sylvie Sejournet,
manager of the Picet-Digital fund, the digital revolution has only just begun: ‘Online
payments represent less than 1% of the total global payments of over $54.000 billion.
And only 9% of global retail sales are conducted online. Even in the advertising industry,
which is known for its online progress thanks to companies like Google and Facebook,
the online penetration is less than 30% (IDC 2016, Federal Reserve 2015; eMarketer
2014; Euromonitor 2015). In short: for companies in these sectors considerable growth
is to be expected.’
The ammunitions of digital companies
The increasing penetration of smartphones and other internet connected devices will
lead to an acceleration of the digital trend. As a result of the increasing use of social networks, the growth of online video and the rise of the Internet of Things (IoT),
companies have the opportunity to gather more and more data. At the same time, the
development of new technologies and the improvement of the existing ones allows
companies to make better use of that data. ‘Data is the ammunitions of digital
companies, while powerful algorithms and artificial intelligence are their weapons’, says
Sejournet.
New technologies allow companies to make better use of data
The combination of the increasing amount of data with the improvements in algorithms
and artificial intelligence (AI) can be expected to cause huge shifts in almost every
industry. ‘Just think of the way robo-advisors and technologies such as blockchain are
already changing the financial sector’, tells Sejournet: ‘And in the healthcare industry,
doctors will get all kinds of new tools to make a diagnosis and to communicate with
patients. In the United States, a company named Teladoc already provides a platform
like Skype for doctors.’
Significant growth potential for digital investments
Despite the obvious advantages of these new technologies, companies are still reluctant
to fully embrace digital technologies. Of the total healthcare spending of $3.000 billion in
the United States, only 3% is dedicated to information technology (IT) in hospitals and
doctor’s offices. Of these investments, almost nothing is spent on digital software.
The digital transition will lead to a huge shift in many market segments, including
healthcare
This segment is expected to experience a significant growth in the upcoming years (Piper
Jaffray, 2016). In the financial industry, an average of 10% is dedicated to IT. However,
by far the largest part of these spendings is related to old and legacy IT-systems. Only
2% of banks technology investments is related to fintech (Accenture, 2016;
IDC/FACTSET). ‘In terms of the opportunities which digital can offer, we are barely scratching the surface’, concludes Sejournet. ‘The digital transition will lead to a huge shift in many
market segments, like the financial industry, the technology sector and among
healthcare companies. For solid positioned companies in these sectors there will be
plenty of room for growth. Will our future look like in that movie, Minority Report? In my
opinion, the answer is definitely yes!’
Important legal information
The Pre-Contractual Templates (PCT) when applicable, the Key Information Document (KID), as well as the Prospectus must be read before any decision to invest. The Prospectus (in English and in French), the PCT when applicable, the KID (in French and in Dutch), as well as the latest annual and semi-annual reports (in English and French) are available free of charge at our financial Belgian agent CACEIS Belgium S.A., 86C /b320, Avenue du Port, 1000 Bruxelles or at the management company, Pictet Asset Management (Europe) SA, 6B, rue du Fort Niedergruenewald, L-2226 Luxembourg, as well as in digital format at www.assetmanagement.pictet.
The summary of investors rights is available here and in French and in Dutch at www.assetmanagement.pictet under the heading "Resources", at the bottom of the page.
The list of countries where the fund is registered can be obtained at all times from Pictet Asset Management (Europe) S.A., which may decide to terminate the arrangements made for the marketing of the fund or compartments of the fund in any given country.
The NAV are available at www.beama.be.
Claims and Mediation Service: For any claim you can contact Pictet Asset Management (Europe) S.A., Compliance Department, 6B, rue du Fort Niedergruenewald, L-2226 Luxembourg or the Consumer Mediation Service (Service de Médiation pour le Consommateur), North Gate II, Boulevard du Roi Albert II 8 in 1000 Bruxelles or at www.mediationconsommateur.be. The Mediation Service may suggest solutions for the settlement of the dispute. In the absence of agreement on the proposed solutions, each party may bring proceedings before the competent courts.
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Information, opinions and estimates contained in this document reflect a judgment at the original date of publication and are subject to change without notice. Pictet Asset Management (Europe) S.A. has not taken any steps to ensure that the securities referred to in this document are suitable for any particular investor and this document is not to be relied upon in substitution for the exercise of independent judgment. Tax treatment depends on the individual circumstances of each investor and may be subject to change in the future.
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This marketing material is not intended to be a substitute for the fund’s full documentation or any information which investors should obtain from their financial intermediaries acting in relation to their investment in the fund or funds mentioned in this document.
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The mentioned financial instruments are provided for illustrative purposes only and shall not be considered as a direct offering, investment recommendation or investment advice. Reference to a specific security is not a recommendation to buy or sell that security. Effective allocations are subject to change and may have changed since the date of the marketing material.
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