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Main information

Fund name Leadersel Event Driven Class B
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.

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 LU1323913191
Bloomberg LEAEVDR LX

Charges

Entry charge None
Exit charge None
Maximum management fees 1.5%
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 2.500 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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Annual chart

In March, Leadersel Event Driven recorded a negative result attributable to the fund's more directional components, with the risk arbitrage and relative value portfolios performing very well in an environment characterized by growing risks arising from the escalation of hostilities in the Persian Gulf.

Manager's comment of the month

Despite exposure to equity markets well below 10%, the magnitude of the declines was such that it penalized the strong performance of mergers and acquisitions arbitrage positions during the month. Specifically, the sector benefited from the finalization of the authorization process for several US deals, including those involving Confluent, Tegna, Exact Sciences, Rapt Therapeutics, and Ventyx Biosciences. Meanwhile, the European portfolio saw the Iveco/Tata Motors spread narrow after shareholders approved the sale of its defense assets to Leonardo.

The announcement of Poste Italiane's plan to acquire Telecom Italia contributed to limiting gains in TIM savings shares. In special situations, the most significant movements involved positions in Avolta, impacted by the likely problems air traffic will face in the near future due to fuel costs and the ban on several key intercontinental routes; Unicredit and Unipol, vulnerable to profit-taking like the entire European financial sector; and Tecnoprobe following the early-year gains. Bucking the trend, Leonardo stands out, supported by the war narrative, but also by decidedly encouraging corporate results.

In relative value, the only notable contribution was from Danieli ord/risp, with ordinary bonds underperforming savings bonds in the declining market, a trend already observed in the past. In terms of asset allocation, barring market effects, the weights of the fund's three components remained essentially stable, with a marginal reduction in special situations, most vulnerable to profit-taking, after their strong performance since the beginning of the year.

The sharply worsening geopolitical context somewhat limited the number of new announcements, especially in Europe, where, however, some pre-event deals were finalized regardless of considerations related to the outcome of the conflict in Iran. In the United States, however, sectors such as technology and pharmaceuticals continued to support a good volume of new extraordinary transactions.

Factsheet

Document Date of the document Download
Monthly report 15/04/2026 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 15/12/2025 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 31/12/2024 PDF get_app
Annual Report CH 31/12/2023 PDF get_app

Notice

Document Date of the document Download
Notice of Merger of Alternative Strategies Sub-Fund with Event Driven Sub-Fund 18/12/2023 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
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Rating
CFS Rating star star star star star
© Ersel Banca Privata - P.Iva 11894590154

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