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Main information

Fund name Leadersel Gaflex Class A
Category Mixte fund
Legal structure Luxembourg umbrella mutual fund
Currency Euro

Investment policy

This Fund is actively managed and aims to achieve capital growth by investing in different classes of international transferable securities. The Fund has no reference Benchmark. The Fund may invest up to 100% in transferable securities, such as fixed and floating rate debt securities, bonds, debenture notes, commercial papers, convertible bonds, with no duration, rating, issuer countries or currency constraints; directly or through investments in undertakings for collective investments in transferable securities (UCITS) authorised pursuant to UCITS Directive and/or other UCIs within the meaning of Article 1, paragraph 2, first and second indent of said Directive. The Fund will not invest more than 80% of its net assets in equity and in equity linked securities, including UCITSs and/or UCIs, that have a policy of investing mainly in equity and equity linked derivatives. The investment in UCITS may include UCITS ETFs. The Fund may also invest up to 15% in Cocos Bonds; 40% Non investment grade or High Yield, including 10% Distressed Securities; 10% CAT Bonds (via UCITSs and or UCIs); 15% Delta One Securities; 10% Real estate (via UCITS and/or UCIs); 35% in aggregate in ETNs or ETCs. The Fund may hold cash (i.e. bank deposits at sight) but not more than 20% of its total net assets, except under exceptionally unfavourable conditions and on a temporary basis. The 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 Fund will neither invest in Asset Backed Securities (“ABS”), nor in Mortgage Backed Securities (“MBS”). Nevertheless, indirect exposure limited to a residual part of the assets of the Fund may occur from the investment in the eligible UCITSs and/or UCIs. The Fund may use SFT. The Fund takes into account the sustainability risks in its investment decisions as defined and described in the Chapter ESG CRITERIA AND SUSTAINABILITY RISKS. This Fund qualifies as an "Article 6" financial product for the purposes of Regulation UE 2019/2088 on Sustainable Finance Disclosure Regulation (‘SFDR’). The Fund also takes into account ESG criteria in the manner described in the same Chapter, section "General approach to ESG
criteria and sustainability risks". Nevertheless, the investments underlying this Fund do not take into consideration the enviromental objectives as defined by Regulation 2020/852 (EU Taxonomy) for environmentally sustainable economic activities. Any income received by the Fund is reinvested. The reference currency of the Fund is the Euro. The Class A is quoted in Euro. 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 LU2454328100
Bloomberg BBG019D8FNP3

Charges

Entry charge None
Exit charge None
Maximum management fees 0.70% on an annual basis
Performance fee None
Minimum amount of the first subscription 1.000.000 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

Financial markets continued to demonstrate remarkable resilience despite the numerous sources of uncertainty that characterized the global backdrop.

Monthly comment from the manager

Following the period of heightened tension triggered by the conflict in the Persian Gulf and concerns over a potential disruption of traffic through the Strait of Hormuz, the gradual easing of geopolitical risks, together with an initial decline in oil prices, allowed investors to refocus their attention on economic fundamentals and medium-term growth prospects. In Europe, macroeconomic data painted a less fragile picture than had been anticipated only a few months earlier. While growth remains subdued, leading indicators have shown signs of stabilization and, in some cases, modest improvement, reducing the likelihood of a recessionary scenario.

In the United States, economic activity continues to stand out for the strength of domestic demand. Household consumption remains resilient, supported by a robust labor market and the positive wealth effect generated by strong financial market performance. Investment spending has also remained solid, although growth is heavily concentrated in sectors linked to artificial intelligence and digital infrastructure. Outside these areas, investment dynamics appear considerably more moderate. Against this backdrop, the Fund maintained an overall constructive positioning, consistent with a still-resilient economic environment, while seeking to capitalize on market opportunities that emerged during the month.

Within equities, the artificial intelligence theme remains a key driver, with investors increasingly focused on the ability of large technology companies to translate their substantial capital investments into tangible revenue and earnings growth. To manage the risks associated with the upcoming earnings season, part of the Fund’s long exposure to the S&P 500 was replaced with short-dated call options. This strategy was designed to participate in a potential breakout to new highs while limiting downside risk should cloud-related revenue growth from major technology companies fall short of expectations. As a result, the Fund’s overall equity exposure remained broadly unchanged, while retaining the potential to increase rapidly through the upside participation provided by the purchased call options.

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
Risk level
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Rating
Morningstar star star star star star
CFS Rating star star star star star
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