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Main information

Fund name Leadersel Active
Category Flexible fund
Legal structure Luxembourg umbrella mutual fund
Currency Euro

Investment object

The Fund is actively managed and aims to achieve capital and revenue growth by investing transferable securities. The Fund has no reference Benchmark.

Investment policy

The Fund may invest up to 75% of its portfolio in fixed and floating rate debt securities, bonds, debenture notes, commercial papers, convertible bonds, Asset Backed Securities (""ABS""), and Mortgage-Backed Securities (""MBS""), with no duration, rating, issuer countries or currency constraints. The Sub-Fund will invest directly or indirectly through investments in undertakings for collective investments in transferable securities (UCITS) authorised pursuant to the EU Directive 2009-65 (UCITS Directive) and/or other UCIs within the meaning and limits set by said Directive. The Sub-Fund will not invest more than one hundred per cent (100%) of its net assets in equity and in equity linked securities, including UCITSs and/or UCIs, that have a policy of investing mainly in equity and equity linked derivatives. The investment in UCITS may include UCITS ETFs. The Fund may also:

  • invest up to 15% of its net assets in securities related to commodities (exposure to commodities shall be realised mainly through ETFs) in compliance with article 41(1)e of the Law of 17 December 2010 and article 2 of the Grand Ducal Regulation of 8 February 2008, and derivatives, including UCITSs and/or UCIs, that have a policy of investing mainly in commodities and commodities linked derivatives;
  • invest in the following specific asset classes up to: 15% in Cocos Bonds; 40% non-investment grade or High Yield, including 10% Distressed Securities; 10% CAT Bonds (via UCITSs and or UCIs); 15% Delta One Securities; 10% Real estate (via UCITS and/or UCIs); 35% in aggregate in ETNs or ETCs.
  • invest up to 50% of its net assets in Emerging Markets including 10% Mainland China, and up to 30% of its net assets in alternative strategies (i.e. event driven, long/short equity and long/short credit) and in algorithmic/systematic trading for a maximum of 10% of its portfolio. The exposure to these asset classes may occur by investing in UCITSs and/or UCIs.
  • invest up to 30% of its assets in green bonds.
  • hold cash (i.e., bank deposits at sight) up to 20% of its total net assets, except under exceptionally unfavourable conditions and on a temporary basis.
  • invest in unrated debt securities up to 10% of its net assets. In this respect, the Management Company has an internal rating procedure allowing to assign an equivalent rating to these unrated securities.

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 67 5999
  • 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 LU2600226877

Charges

Entry charge None
Exit charge None
Maximum management fees 0.60% on an annual basis
Performance fee Maximum rate of 10% according to the High Watermark method.
Minimum amount of the first subscription 2.500 euro
Minimum amount of subsequent subscriptions 0

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.

Financial markets continued to demonstrate remarkable resilience despite the numerous sources of uncertainty that characterized the global backdrop.

Monthly comment from the manager

Following the period of heightened tension triggered by the conflict in the Persian Gulf and concerns over a potential disruption of traffic through the Strait of Hormuz, the gradual easing of geopolitical risks, together with an initial decline in oil prices, allowed investors to refocus their attention on economic fundamentals and medium-term growth prospects. In Europe, macroeconomic data painted a less fragile picture than had been anticipated only a few months earlier. While growth remains subdued, leading indicators have shown signs of stabilization and, in some cases, modest improvement, reducing the likelihood of a recessionary scenario.

In the United States, economic activity continues to stand out for the strength of domestic demand. Household consumption remains resilient, supported by a robust labor market and the positive wealth effect generated by strong financial market performance. Investment spending has also remained solid, although growth is heavily concentrated in sectors linked to artificial intelligence and digital infrastructure. Outside these areas, investment dynamics appear considerably more moderate. Against this backdrop, the Fund maintained an overall constructive positioning, consistent with a still-resilient economic environment, while seeking to capitalize on market opportunities that emerged during the month.

Within equities, the artificial intelligence theme remains a key driver, with investors increasingly focused on the ability of large technology companies to translate their substantial capital investments into tangible revenue and earnings growth. To manage the risks associated with the upcoming earnings season, part of the Fund’s long exposure to the S&P 500 was replaced with short-dated call options. This strategy was designed to participate in a potential breakout to new highs while limiting downside risk should cloud-related revenue growth from major technology companies fall short of expectations. As a result, the Fund’s overall equity exposure remained broadly unchanged, while retaining the potential to increase rapidly through the upside participation provided by the purchased call options.

Offer documents

Document Date of the document Download
KID 02/03/2026 PDF get_app
Management rules 25/01/2013 PDF get_app
Prospectus 06/05/2026 PDF get_app

Semi-annual reports

Document Date of the document Download
Semi annual report 30/06/2026 PDF get_app

Annual reports

Document Date of the document Download
Annual report 31/12/2025 PDF get_app
Risk level
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Rating
Morningstar star star star star star
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