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Main information

Fund name Leadersel Equity World - Class R
Benchmark MSCI Limited (MSCI World Index)
Category Equity
Legal structure Mutual Fund under Luxembourg Law with multiple Sub-funds
Currency Euro

Investment object

The investment objective of this Sub-Fund is to achieve long term capital growth mainly through investment in a portfolio of securities of listed companies selected using fundamental analysis based on economic and financial factors. To find, research and select such companies the Investment Manager applies fundamental analysis and strict quality criteria including but not limited to high levels of return on capital, strong self-financing capability, and sustainable profit margins.

Investment policy

This Sub-Fund mainly invests in shares and similar securities with a focus on listed large caps in developed countries. The Sub-Fund may also invest in ADR (American Depositary Receipts) or GDR (Global Depositary Receipt). Those ADR/GDR will not have derivative incorporated products.

The Sub-Fund may invest up to 20% of its total net assets in shares and similar securities of companies listed in Emerging Markets; in such case, the Sub-Fund will invest only in securities listed on regulated markets.

Up to 10% of the portfolio may be invested in bonds. All bonds will be investment grade (the “Minimum Rating”); the Manager will sell within three (3) months, and in the best interest of the Unitholders, any securities that are downgraded below the Minimum Rating.

For temporarily liquidity management, the Sub-Fund may invest, on a residual basis, in money market instruments with duration of less than twelve (12) months.

The Sub-Fund may hold cash, on a residual basis, i.e up to 20% of its total net assets, except under exceptionally unfavourable conditions and on a temporary basis.

The Sub-Fund may invest up to ten per cent (10%) of its net assets in UCITS or other UCI as referred to in art. 41, section 1, of the Law of 2010.

The Sub-Fund may use financial techniques and instruments in order to promote an efficient portfolio management, in accordance with the restrictions set forth in the “Financial techniques and instruments” chapter of the prospectus.

The Sub-Fund will use only SFT as set forth in the section headed "Use of SFT" below.

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:00.352.47.67.59.99
  • Faxnumber:00.352.47.67.70.37
  • Business hours: 9 a.m. to 6 p.m. CET
  • Languages: English, 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 LU2808282383
Bloomberg LEWOREC LX

Charges

Entry charge None
Exit charge None
Maximum management fees 1,75%
Performance fee Calculated on an annual basis on a maximum rate of 20% of the positive difference between the Fund's net return and its benchmark index.
Minimum amount of the first subscription 2.500 euro
Minimum amount of subsequent subscriptions None

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

In September, the trend of positive returns seen during the summer season continued across all major global equity markets.

Monthly comment from the manager

More specifically, from a geographical perspective, the patterns observed in recent months persist, with the United States showing monthly performances that outpace those of Europe. The U.S. outperformance compared to Europe reflects a situation consistent with several distinguishing factors between the two regions - primarily more favorable earnings revisions and a generally stronger earnings season in the U.S., versus more moderate results in Europe. Beyond these fundamental aspects, another contributing factor is the theme of artificial intelligence, a theme that is far more embedded in the U.S. market than in Europe.

AI continues to exert a growing and widespread influence on U.S. equities, alongside mega-cap stocks, not only by driving strong absolute and relative fundamentals, but also by introducing potential sources of market risk. U.S. market performance has also been supported by macroeconomic factors, particularly the anticipated rate-cutting cycle by the Federal Reserve, which has bolstered the index overall and helped segments of the market that had been penalized until recently and are generally characterized by lower quality profiles.

During the month the strategy lagged a market largely driven by themes we consider increasingly speculative and risky, preferring instead high-quality investments, even though these have shown a more modest recovery over the year following the sharp market decline in April. During the month, some rebalancing actions were taken to reposition the portfolio mix and relative bets.

This included increasing positions deemed interesting or recently initiated with the aim of capturing the estimated upside (Intuit, Uber, Trane, and Airbus) and reducing larger positions with incrementally higher valuations after recent gains (Alphabet, General Electric, Nvidia, TSMC, and Amphenol), or those showing limited appeal in the current environment (Deutsche Telekom). Given the more limited upside after strong absolute and relative results, the position in Monster Beverage has been closed. Additionally, a new position in Rolls-Royce was initiated.

Offer documents

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

Annual reports

Document Date of the document Download
Annual report 31/12/2024 PDF get_app
Fund manager
Paolo Baretto
Paolo Baretto
Team Investimenti Lussemburgo
Risk level
  • 1
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  • 7
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