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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

July was characterised by a broad rotation away from the market segments most exposed to the Momentum factor towards the wider equity market, particularly those areas that had lagged earlier in the year.

Monthly comment from the manager

As a result, most major equity indices ended the month little changed despite elevated dispersion beneath the surface. The underlying fundamental backdrop remains supportive, as evidenced by another strong earnings season led by companies at the centre of the AI ecosystem. The market continues to focus on the relationship between those funding the build-out of AI infrastructure and those currently benefiting from this investment, with the durability of capital spending and the returns ultimately generated remaining the key determinants of the theme's long-term attractiveness.

July provided further evidence in support of both sides of this equation. Microsoft and Amazon reported accelerating demand, reinforcing confidence in the economic returns on AI investment while simultaneously highlighting that demand for computing capacity continues to materially exceed available supply. This, in turn, remains a constructive backdrop not only for semiconductor companies but also for industrial businesses exposed to datacentre infrastructure, electrification and energy efficiency.

Against this favourable backdrop, the market nevertheless revisited a number of familiar concerns, including circular financing dynamics, increasing competitive pressure from Chinese AI and memory players, and the implications for companies such as Anthropic and OpenAI. Combined with increasingly crowded positioning, these concerns drove sharp corrections across the more cyclical areas of the AI value chain, where the sustainability of demand and pricing remains more heavily debated. Our assessment remains unchanged. Both technology adoption trends and recent corporate results continue to point to a healthy demand environment across the AI ecosystem.

Portfolio activity during the month therefore focused on improving portfolio resilience rather than altering our underlying conviction. We selectively reduced exposure to the highest-Momentum holdings, where valuation risk appeared less favourable, while increasing allocations to high-quality businesses trading at more attractive valuations and capable of sustaining superior fundamental performance despite perceived disruption risks, including Booking, Adobe and the newly initiated position in RELX.

Factsheet

Document Date of the document Download
Monthly report 12/08/2026 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 06/05/2026 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
Fund manager
Paolo Baretto
Paolo Baretto
Team Investimenti Lussemburgo
Risk level
  • 1
  • 2
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  • 4
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  • 6
  • 7
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