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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

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

Annual chart

In October, emerging equity markets experienced a sharp correction, primarily weighed down by a significant sell-off in technology stocks and a deterioration in risk appetite.     

Monthly comment from the manager

Growing concerns over the sustainability of substantial investments in artificial intelligence, combined with worries about rising financing costs and intensifying Chinese competition in the semiconductor industry, triggered a significant sell-off in technology-heavy Asian markets. South Korea and Taiwan consequently recorded steep declines, bringing the positive momentum of previous months to an abrupt halt. Chinese equities also came under pressure, as the correction in AI-related stocks compounded persistent signs of weakness in domestic demand.

In contrast, India proved more resilient, benefiting from its relatively limited exposure to the sectors most affected by the technology sell-off. Outside Asia, Brazil suffered a sharp decline, weighed down by the outcome of the presidential elections and the resulting concerns over the future direction of fiscal policy.

Against this backdrop, Leadersel Emerging Market Multimanager ended the month with a negative return, although it outperformed its benchmark. The sharp reversal in Asian technology stocks once again highlighted the extent to which the current index composition is sensitive to the performance of a small number of companies, particularly major semiconductor manufacturers with significant exposure to the AI investment cycle. During this period of rapid reassessment of the investment theme, the greater diversification offered by the active managers in the portfolio, combined with a disciplined approach to valuations, provided an important degree of downside protection, helping to limit losses relative to the benchmark.

The passive allocation, which was increased in recent months to contain relative portfolio risk, continues to play a complementary role. Nevertheless, our investment approach remains predominantly focused on active management, with a preference for value-oriented strategies and bottom-up stock selection processes grounded in fundamental analysis and the ability to identify opportunities beyond the largest index constituents. We believe that, particularly in a highly concentrated market, this approach offers greater potential over the long term to build resilient portfolios and selectively capture the structural growth opportunities offered by emerging markets.

Factsheet

Document Date of the document Download
Monthly report 16/10/2026 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 01/10/2026 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

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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