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Main information

Fund name Leadersel Emerging Market Multimanager
Category Emerging countries equity fund
Legal structure Luxembourg umbrella mutual fund
Currency Euro

Investment policy

The Fund aims to maximise the invested capital. In order to achieve the above said aims the Fund invests mainly in Undertakings for Collective Investments in Transferable Securities (UCITS) and/or other Undertakings for Collective Investments (UCIs), with a policy of investing mainly in a widely diversified portfolio of shares from emerging countries. In order to achieve the above aims the Fund can use derivatives not only for hedging purposes. The Fund's investment decisions are made on a discretionary basis. Any income received by the Fund is reinvested. The Fund's value is calculated and expressed in Euros. The investor can buy or sell shares of the Fund on a weekly basis, each Friday, or next full banking day.

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 LU0229830756
Bloomberg ESGEMKT LX

Charges

Entry charge None
Exit charge None
Maximum management fees 1,5% on an annual basis
Performance fee Calculated quarterly on 20% 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 Emerging Market Index.
Minimum amount of the first subscription 2.500 euro
Minimum amount of subsequent subscriptions 250 euro

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

1 year 3 years 5 years 10 years
Fund - - - -
Benchmark - - - -
1 year 3 years 5 years 10 years
Fund - - - -
Benchmark - - - -
1 year 3 years 5 years 10 years
Fund - - - -
Benchmark - - - -

Annual chart

During July, emerging equity markets posted negative returns, primarily weighed down by the sharp correction in the Asian technology sector.

Monthly comment from the manager

Growing concerns over intensifying Chinese competition in advanced semiconductors, combined with increasing doubts about the sustainability of the substantial global investment cycle in artificial intelligence, triggered a significant sell-off in leading semiconductor manufacturers, with Samsung Electronics and SK Hynix recording steep declines. As a result, the South Korean and Taiwanese equity markets significantly underperformed, dragging the broader emerging markets universe lower. This weakness was only partially offset by the positive performance of the Chinese market, supported by expectations of additional macroeconomic stimulus measures and a recovery in domestic equities, as well as by the resilience of the Brazilian market, which benefited from the rebound in commodity prices and softer-than-expected inflation data, reinforcing expectations of an upcoming monetary easing cycle.

Against this backdrop, Leadersel Emerging Market Multimanager delivered a negative return for the month but outperformed its benchmark. The correction in the Asian technology sector highlighted the high degree of concentration currently embedded in the MSCI Emerging Markets Index, both in terms of a limited number of stocks and a single dominant investment theme, artificial intelligence and semiconductor demand. In this environment, the Fund's predominant allocation to active managers, whose portfolios are more broadly diversified and managed with a disciplined valuation framework, helped mitigate losses during a period marked by a sharp reversal in the positive momentum of technology stocks.

While we have increased our allocation to passive strategies in recent months with the objective of reducing relative portfolio risk, we continue to favour active management, with a preference for value-oriented investment strategies and a bottom-up stock selection process based on rigorous fundamental analysis. We believe this approach provides the most effective way to capture the long-term growth opportunities offered by emerging markets in a disciplined and sustainable manner.

Factsheet

Document Date of the document Download
Monthly report 10/07/2026 PDF get_app

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
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

Notice

Document Date of the document Download
Notice to unitholders 16/05/2024 PDF get_app
Leadersel Emerging Market Multimanger change of investment manager 09/11/2023 PDF get_app
Fund manager
Corrado Ciavattini
Responsabile Area Multimanager
Management team
Management team
Risk level
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
Rating
Morningstar star star star star star
CFS Rating star star star star star

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