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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

In May, the positive momentum in emerging equity markets continued, with the asset class delivering a return of just over 10% in euro terms.

Monthly comment from the manager

Performance was once again driven almost exclusively by Taiwan and South Korea, and by their global semiconductor champions. Following the already exceptional gains recorded in the previous month, TSMC and Samsung Electronics advanced by 12% and 41% respectively in euro terms, while memory chip producer SK Hynix posted a further 79% gain. Outside these markets, contributions from other emerging countries were modest and, in some cases, negative. This was particularly evident in Brazil, which was weighed down by weaker commodity prices and rising political uncertainty ahead of the upcoming presidential elections, and in China, where slower retail sales and industrial production growth highlighted the fragility of domestic demand, making the economy increasingly reliant on export support.

Against this backdrop, Leadersel Emerging Market Multimanager delivered a positive return for the month, albeit below that of its benchmark. As already observed in April, the exceptionally high concentration of market returns continued to pose a challenge for our selected managers, whose portfolios, also for prudent risk management reasons, generally maintain significantly lower levels of concentration than those currently reflected in the benchmark index. In light of the persistence of this trend, during the month we gradually reduced exposure to active managers while increasing allocations to passive instruments, with a particular focus on the South Korean market.

This decision was not aimed at chasing the benchmark’s growing concentration in a single investment theme and a handful of stocks, but rather at containing the portfolio’s relative risk during a period in which market momentum remains particularly strong. Within the active component, albeit with a reduced allocation, the Fund continues to favour value-oriented strategies and a bottom-up investment approach based on the analysis of individual company fundamentals. We believe this framework remains the most effective way to capture, in a structured and sustainable manner, the long-term growth opportunities offered by emerging markets.

Factsheet

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

Offer documents

Document Date of the document Download
KID 03/03/2025 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

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
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  • 7
Rating
Morningstar star star star star star
CFS Rating star star star star star

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