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Main information

Fund name Leadersel Event Driven Class A
Category Flexible fund
Legal structure Luxembourg umbrella mutual fund
Currency Euro

Investment policy

The Fund aims to maximize capital with focus on companies subject to extraordinary/special situations such as mergers, acquisitions and restructuring with the aim to take advantage of such events. This objective will be reached by investing mainly intransferable securities, particularly equities and bonds, money market instruments and derivatives (such as futures and options, Contracts for Difference or Equity Swaps), in order to create long and short exposure with the aim of exploiting potential opportunities. If the Fund invests in Swaps on Indexes, the index composition will be public and disciplined by appropriate Index Rules publicly available and in accordance with the provisions of the Law. The Fund will not invest in derivatives where the counterparties have any discretion on the composition or management of the Fund’s investment portfolio or on the underlying of the financial derivative instruments. The Fund may hold liquid assets, including cash, bank deposits, money market instruments or units of Undertakings for Collective Investments in Transferable Securities (UCITS) and/or other Undertakings for Collective Investments (UCIs) that have a policy of investing mainly in liquidity strategies on a residual basis (less than 50% of its net assets). The Fund may invest up to 100% of its net assets in various issues (minimum 6) of securities and money market financial instruments, issued or guaranteed by a Member State of the European Union, by its public territorial authorities, by a Member state of the OECD, by international public institutions to which one or more EU Member States belong. The Fund will invest mainly in developed markets. The Fund may invest up to 10% of its net assets in units of other UCITS or other UCIs. The Fund may use financial techniques and instruments in order to promote efficient portfolio management. 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 LU1492667982
Bloomberg LEQDQAE LX

Charges

Entry charge None
Exit charge None
Maximum management fees 1% on an annual basis
Performance fee Maximum of 20% calculated on the positive return of the net asset value per unit with reference to each Valuation Date (High Water Mark), paid quarterly.
Minimum amount of the first subscription 2.000.000 euro
Minimum amount of subsequent subscriptions 50.000 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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Annual chart

Leadersel Event Driven's performance in October was driven by positive contributions from all three portfolios of the fund: risk arbitrage, relative value, and special situations.

Manager's comment of the month

In particular, in risk arbitrage, Covestro further recovered, driven by optimism regarding European antitrust approval. Sources familiar with the ADNOC transaction indicated that the substantive aspects of the investigation have been resolved, with only a few procedural steps remaining before formal approval from Brussels. Also in Europe, Grupo Catalana Occidente, a Spanish insurance company, benefited from the improved consideration offered by its reference shareholder Inoc SA as part of a minority buyout.

The US component also contributed significantly to performance thanks to the widespread gains recorded across numerous portfolio positions, further demonstrating the changed operating environment in the United States compared to the recent past. The relative value portfolio saw a positive performance in the spread between Telecom Italia's savings and ordinary shares, thanks to sector consolidation trends that could lead to improved free cash flow for the company and a return to dividend distribution in the near future.

The relative value portfolio's overall performance in Italian stocks was also significant. Finally, among special situations, the renewable energy sector contributed significantly, thanks to positions in Grenergy and First Solar, which showed good progress thanks to upgrades by several investment houses. Furthermore, the position in Unipol benefited from rumors regarding a possible consolidation in the Italian bankinsurance sector. Noteworthy in terms of asset allocation is the increase of over 10% in the risk arbitrage weighting.

This increase was driven by new positions added to the portfolio, particularly those related to deals announced in the United States. New risk arbitrage investment opportunities offer a generally attractive risk-return profile, and in a context where the expansion of the investable universe allows for a good degree of diversification, it is reasonable to expect favorable conditions for the strategy to persist.

Factsheet

Document Date of the document Download
Monthly report 19/11/2025 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
Annual Report CH 31/12/2023 PDF get_app
Fund manager
Giorgio Nicola
Giorgio Nicola
Team Investimenti Event Driven
Riccardo Costa
Riccardo Costa
Team Investimenti Event Driven
Alessandro Moretti
Alessandro Moretti
Team Investimenti Event Driven
Risk level
  • 1
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  • 6
  • 7
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