close
since 1936
Wealth Management
Ersel in brief
Our history
Group companies
Facts and figures
Our foundations
Sustainability
share

Main information

Fund name Leadersel Flexible Bond Class A
Category Flexible bond fund
Legal structure Luxembourg umbrella mutual fund
Currency Euro

Investment policy

The Fund's primary investment objective is to increase its capital by investing mainly (i.e. more than 50% of its net assets) in bonds or other transferable securities of the same nature issued by (or relating to) states, local authorities, international authorities, financial institutions or corporations, both high yield and investment grade, issued both by issuers from developed countries and from emerging countries. The Fund may invest in bonds of any sort and other similar debt securities and in Exchange Traded Funds (ETFs) or Undertakings for Collective Investments in Transferable Securities (UCITS) and/or other Undertakings for Collective Investments (UCIs). The Fund may invest in instruments denominated in currencies other than the euro. The Fund may hold cash, less than 50% of the Fund Net Asset Value (NAV). The Fund may use financial techniques and instruments in order to promote an efficient portfolio management, in accordance with the prospectus. In particular, the Fund will use listed derivatives and OTC derivatives in order to create long and short exposure with the aim of exploiting potential opportunities. Investments in the Fund involves risks due to possible variations in net asset value which, in turn, depend on the values of the securities in which the Fund invests. The recommended minimum investment period horizon is 3/5 years. The Fund addresses to investors willing to accept a medium/high level of risk. Any income received by the Fund is reinvested. The Fund's value is calculated and expressed in Euros. Investors can buy or sell shares of the Fund on a daily basis (full bank business 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 LU2065928777
Bloomberg LEADFBA LX

Charges

Entry charge None
Exit charge None
Maximum management fees 0.5% on an annual basis
Performance fee Maximum of 10% of the annual performance exceeding both the Highwatermark (the highest year end value attained prior to the calculation date) and the Hurdle Rate (annual performance of Euribor 12 Month + 2%). Paid annually.
Minimum amount of the first subscription 2.000.000 euro
Minimum amount of subsequent subscriptions 0

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 April 2026, bond markets experienced a partial adjustment, albeit within a framework that remains affected by the legacy of the volatility observed in March.

Manager's comment of the month

Although the geopolitical escalation in the Gulf failed to show further peaks in intensity, investor sentiment remained extremely cautious, reflecting only partial digestion of the energy shocks. Core rates tended to drift sideways at elevated levels: downward pressure stemming from the search for quality was offset by concerns about sticky inflation, fueled by still-tight commodity prices. On the credit front, spreads narrowed modestly in high-quality segments, while selectivity toward issuers most exposed to refinancing costs remained evident.

From a macroeconomic perspective, the resilience of global economic activity continued to surprise, but simultaneously reinforced the narrative of central banks being less inclined to lend. Given this scenario, the fund continued to adopt a more defensive approach, making more decisive adjustments to duration only when the US 10-year bond exceeded 4.30-4.35%. With the yield of the T-note rising, we increased our exposure to EM hard currency bonds by 2% for carry purposes.

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 06/05/2026 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 31/12/2025 PDF get_app
Annual Report CH 31/12/2023 PDF get_app
Fund manager
Carlo Bodo
Carlo Bodo
Responsabile Investimenti Obbligazionari
Marco Castelnuovo
Marco Castelnuovo
Team investimenti obbligazionari
Risk level
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
Rating
Morningstar star star star star star
© Ersel Banca Privata - P.Iva 11894590154

RISPARMIO ENERGETICO ATTIVO

Questa schermata consente al tuo monitor di consumare meno energia quando il computer resta inattivo.

Clicca in qualsiasi parte dello schermo per riprendere la navigazione.