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Main information

Fund name Leadersel Dynamic
Benchmark In relation to the purpose of the fund it is not possible to identify a benchmark representative of the investment policy.
Category Flexible fund
Legal structure Luxembourg umbrella mutual fund
Currency Euro

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 LU0904227583
Bloomberg LEADYNA:LX

Charges

Entry charge None
Exit charge None
Maximum management fees Max 1.5% on an annual basis
Performance fee None
Minimum amount of the first subscription 2.500 euro
Minimum amount of subsequent subscriptions None

During May 2026, global equity markets demonstrated solid resilience, supported by the exceptional momentum of the "AI trade," which succeeded in offsetting fears related to inflation and geopolitical tensions.

Monthly comment from the manager

The primary driving force behind stock exchanges was artificial intelligence. The earnings season recorded record profits, driven by massive capital expenditure (capex) from hyperscalers. This investment flow poured into companies across the supply chain, particularly chipmakers, which benefit from immense pricing power due to tight supply and near-historic lows in inventories (especially in South Korea). Exceptional upward revisions to earnings-per-share (EPS) estimates prevented speculative bubbles: historical valuation multiples (P/E) in the tech sector remained reasonable and, in some respects, even cheaper than in the past.

Nonetheless, the global rally exhibited extreme concentration driven by the Momentum factor, with roughly 65% of the MSCI World's gains concentrated in just 10 stocks since late March. In parallel, markets contended with an energy shock caused by the closure of the Strait of Hormuz, which pushed Brent crude to $107 per barrel. The resulting rebound in inflation (with the US super-core CPI rising to 3.4% in April) dampened expectations for monetary easing: the Fed left rates unchanged in the 3.50%–3.75% range (amid growing divisions within the board), while consensus is building in Europe for an ECB rate hike in June.

This inflationary environment and high energy costs penalized traditional defensive sectors (such as Consumer Staples) that lack pricing power, prompting a rotation toward commodities and cash. Geographically, the technology export boom in North Asia (South Korea and Taiwan) stood out, while China showed signs of a revival in industrial profitability.

Factsheet

Document Date of the document Download
Monthly report 12/06/2026 PDF get_app

Offer documents

Document Date of the document Download
KID 04/07/2025 PDF get_app
Management rules 05/02/2019 PDF get_app
Prospectus 06/05/2026 PDF get_app

Semi-annual reports

Document Date of the document Download
Semi annual report 30/06/2025 PDF get_app
Semi annual report CH 30/06/2024 PDF get_app

Annual reports

Document Date of the document Download
Annual report 31/12/2025 PDF get_app
Annual Report CH 31/12/2023 PDF get_app
Risk level
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Rating
Morningstar star star star star star

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