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Main information

Fund name Leadersel Equity World Class I
Benchmark MSCI Limited (MSCI World Index)
Category International equity fund
Legal structure Luxembourg umbrella mutual fund
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 LU2808282466
Bloomberg LEWOIEC LX

Charges

Entry charge None
Exit charge None
Maximum management fees 1%
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 125.000 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

Summary table

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Annual chart

November marked a reversal from the positive trend observed in previous months, with global equity indices posting overall negative or neutral monthly returns.

Monthly comment from the manager

In euro terms, Europe displayed a slightly more favorable performance, while the U.S. market ended the month marginally in negative territory. The most critical phase of this downturn occurred around mid-month, when weakness was broadly evident across all major regions; however, this proved to be short-lived. In the final days of the month, equity markets recovered part of their losses, returning to a more constructive trend.

From a factor perspective, an important lens for understanding market movements, during the mid-month weakness, the Quality factor outperformed, reaffirming its defensive role in risk-off environments. Conversely, the Momentum factor showed greater vulnerability, regaining strength only toward month-end and driving the broad-based recovery. Artificial Intelligence remained a dominant theme in November, confirming its status as the undisputed protagonist of 2025. Concerns about a potential bubble have focused primarily on large-cap, high-quality companies, fueled by substantial investments these firms continue to make. This is particularly evident in their relative performance, which does not show significant outperformance versus the broader AI theme.

We continue to estimate meaningful upside, both fundamentally and in terms of returns, for these companies, with short-term headwinds driven mainly by sentiment. In contrast, the strongest gains linked to AI trends once again emerged in the more cyclical, higher-beta, and speculative segments of the theme.

During the month, several rebalancing actions were implemented to manage active risk, reducing positions with strong absolute and/or relative performance, or those with lower conviction or greater exposure in risk-off scenarios: AstraZeneca, Microsoft, Inditex, General Electric, ThermoFisher, Nvidia, Broadcom, Adyen, Meta. Conversely, three new positions were initiated in AutoZone, CME, and Nasdaq, which we believe can deliver positive dynamics across various scenarios. Additionally, we continued to build our position in Boston Scientific.

Factsheet

Document Date of the document Download
Monthly report 21/11/2025 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 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
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