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Main information

Fund name Globersel Global Equity Class B - Walter Scott
Benchmark 95% Morgan Stanley World Developped Market Index 100% hedged in euro; 5% ML Euro Govt Bill Index
Category International equity fund
Legal structure Luxembourg umbrella mutual fund
Currency Euro

Investment policy

The Fund seeks to maximise capital growth. In order to achieve the above said aims, the Fund invests mainly in shares and similar securities and also in convertible bonds or other types of bonds. The Fund may invest, on a residual basis, in money market instruments with duration of less than 12 months and hold liquid assets, including bank deposits. The Fund may invest up to 10% in Undertakings for Collective Investments in Transferable Securities (UCITS) or Undertakings for Collective Investments (UCI). The Fund's investment decisions are made on a discretionary basis. The Fund hedges the market currency exposure. In order to achieve the above aims, the Fund can use derivatives not only for hedging purposes. Any income received by the Fund is reinvested. The Fund's value is calculated and expressed in Euros with the foreign exchange risks hedged. The investor can buy or sell shares of the Fund on a daily (full bank business days) basis. 

ESG, environment, society, governance

The investment process integrates environmental, social and governance factors. The fund monitors the ESG (Environmental, Social and Governance) profile of the investments and can take a position on issues that could have a negative impact on the matter.

Legal information

Depository bank CACEIS Bank, Luxembourg branch
Audit firm EY
How to subscribe it

The Funds managed by Ersel Gestion Internationale S.A. can be subscribed by sending an order to the Transfer Agent and Custodian Bank of the Fund. Investor Services Team:

  • Email address: fds-investor-services@caceis.com
  • Phone number: 00 352 47 6759 99 - Fax number: 00 352 47 67 70 37
  • Business hours: 9 a.m. to 6 p.m. CET
  • Languages: Inglese, French, Spanish, Italian, German, Dutch

For institutional investors the orders can also be transmitted through the following distributors: Allfunds Bank, Mfex, Fund Channel.

NAV calculation frequency Daily
Fund units publication Fundsquare.net

Fund ticker

ISIN code LU0752853290
Bloomberg GLBREQBLX

Charges

Entry charge None
Exit charge None
Maximum management fees Max 1.75% on an annual basis
Performance fee Calculated quarterly on 18% of the positive difference between the net return of the Fund and its reference index: 5% Merrill Lynch Euro Government Bill Index and 95% MSCI World Index.
Minimum amount of the first subscription 2.500 euro
Minimum amount of subsequent subscriptions None

Performance

Period NAV Fund Benchmark
- - - -
* Average annual compound yield
NOTE: Before subscribing, read the informative prospectus. There is no guarantee of obtaining the same return afterwards.

Graphic trend

Summary table

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Annual chart

February confirmed an articulated and selective market environment, with an overall positive outcome globally but marked divergences across geographies and investment styles.

Manager's comment of the month

Global equities closed the month in moderately positive territory (approximately +2% in USD and +2.8% in EUR), driven primarily by Europe and emerging markets, while the United States showed greater weakness. In the US, the S&P 500 declined 0.9%, while the NASDAQ Composite lost 3.4%, reflecting profit-taking and growing questions around valuations, particularly in the Artificial Intelligence segment. Concerns relate both to excessive expectations embedded in prices and to the risk that certain applications may generate disruptive effects in specific sectors.

The STOXX Europe 600 gained 3.7% over the month, consolidating a particularly strong start to the year, while the FTSE 100 delivered a robust +6.7%. Japan also showed strength, with the TOPIX rising 10.4%. Emerging markets benefited from renewed investor interest, with the MSCI Emerging Markets up 5.4%, though with uneven contributions within the region, as evidenced by the weakness of the Hang Seng Index (-2.8%). From a factor and size perspective, a recovery in value style was observed: the MSCI World Value Index gained 2.8%, compared to a decline in the MSCI World Growth Index (-1.7%).

Global small caps (MSCI World Small Cap +3.8%) outperformed large caps (MSCI World Large Cap +0.1%). On the fixed income side, the month was characterized by a compression of yields across the main government curves: the US 10-year Treasury yield fell 30bps, while the German 10-year Bund moved -20bps. A similar dynamic played out in US 10-year inflation-linked securities (US TIPS 10Y, -21bps). On 28 February, the military escalation involving the United States, Israel, and Iran triggered a risk-off reaction across global markets, so far contained but significant.

Among commodities, WTI crude oil (West Texas Intermediate) rose 3%, also supported by geopolitical risk, while gold posted a sharp +7.9%, reaffirming its safe-haven status. On the currency front, EUR/USD remained broadly stable (-0.3%), the dollar strengthened against the yen (USD/JPY +0.8%). The fund recorded a positive absolute performance, though below its benchmark over the period. Sector allocation detracted from returns, as did stock selection, primarily due to ADP, Copart, and Novo Nordisk. 

Factsheet

Document Date of the document Download
Monthly report 18/02/2026 PDF get_app

Offer documents

Document Date of the document Download
KID 03/03/2025 PDF get_app
Prospectus 01/08/2025 PDF get_app
Management rules 05/02/2019 PDF get_app
Prospectus UK 24/10/2019 PDF get_app

Semi-annual reports

Document Date of the document Download
Semi annual report 30/06/2025 PDF get_app

Annual reports

Document Date of the document Download
Annual report 31/12/2024 PDF get_app
Annual Report CH 31/12/2021 PDF get_app

Notice

Document Date of the document Download
NOTICE Leadersel Innotech into Globersel Global Equity Walter Scott 21/07/2025 PDF get_app
Fund manager
Walter Scott & Partners Ltd
Gestore in delega
Risk level
  • 1
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  • 7
Rating
CFS Rating star star star star star

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