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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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Benchmark - - - -
1 year 3 years 5 years 10 years
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Benchmark - - - -
1 year 3 years 5 years 10 years
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Annual chart

In April, notwithstanding the persistence of geopolitical tensions in the Middle East and elevated oil prices, the global emerging equity markets index delivered a decidedly strong performance, outperforming developed markets.

Monthly comment from the manager

This outperformance was driven mostly by Taiwan and South Korea, two markets with significant exposure to the semiconductor sector, a critical pillar of the broader artificial intelligence value chain. By way of illustration, during the month companies such as TSMC and Samsung Electronics posted gains of 21% and 33%, respectively, while memory manufacturer SK Hynix recorded an exceptional +61%.

The concentration of returns around a single thematic driver and a narrow set of names has been so pronounced that, year-to-date, the +15% (in euro terms) delivered by the global index is fully attributable to Taiwan and South Korea. Other emerging markets have contributed far more modestly, if not negatively, as in the case of India and China.

Against this backdrop, Leadersel Emerging Market Multimanager closed April in positive territory, albeit underperforming its benchmark. This reflects the challenges faced by active managers in generating alpha in an environment characterized by such an elevated concentration of returns. With the start of May and the continuation of this trend, we therefore decided to reduce the underweight exposure to the Korean market, primarily stemming from underlying managers’ allocations, in order to capture its strong positive momentum and to mitigate portfolio active risk.

This adjustment was implemented through the purchase of a dedicated ETF. Conversely, we deemed it appropriate to maintain our exposure to Taiwan unchanged, where valuations appear particularly stretched and the risk of a correction more pronounced, especially in light of an ongoing complex geopolitical backdrop. More broadly, the Fund continues to favor value-oriented strategies and a bottom-up, fundamentals-driven approach to stock selection, which we believe is particularly well suited to the current market environment, characterized by elevated uncertainty.

Factsheet

Document Date of the document Download
Monthly report 13/05/2026 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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