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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

In October, the positive momentum already observed in previous months across global equity markets continued, with broadly solid performances in the major geographic regions and an environment that remains supportive for the equity asset class.

Monthly comment from the manager

In comparable currency terms (EUR), U.S. equities continued to outperform European equities, reinforcing the relative strength trend that has been in place throughout the year. Emerging market indices also delivered positive results, driven above all by markets with higher exposure to the artificial intelligence theme, which has become increasingly central in supporting investor sentiment. This theme remains a significant catalyst, despite the growing doubts and risks linked to the more speculative and peripheral components of the sector.

The reporting season reinforces this narrative: the main AI-oriented megacaps posted particularly strong results, supported by an acceleration in growth and by structurally high demand that continues to outpace supply capacity. The increase in capital expenditures required to meet this demand has, however, generated in some cases (for example Meta) more cautious market reactions and persistent questions regarding the future return on these investments. From our perspective, the behaviour of these companies remains rational in light of the scale of the opportunities ahead.

Overall, the earnings season has painted a very positive picture, particularly in the United States, with an acceleration both in the magnitude and in the breadth of earnings beats, especially on the top line. The average market reaction has been relatively moderate, but sufficient to support valuations that remain at the higher end of the range. Within the portfolio, we maintain full equity exposure complemented by a hedging strategy on the SPX with December expiry. Gross equity exposure stands at 102%, net at 88%. Over the past month, we added a 5% allocation to Chinese markets, primarily technology, where we believe the AI theme may further benefit the region.

Factsheet

Document Date of the document Download
Monthly report 21/11/2025 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 15/04/2025 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 31/12/2024 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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