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Main information

Fund name Leadersel High Dividend Equity Class I
Benchmark MSCI World High Dividend Yield Net Total Return
Category Equity fund
Legal structure Mutual Fund under Luxembourg Law with multiple Sub-funds
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 by striking an appropriate balance between equities with steady dividend growth projections and stocks with a higher, but at the same time more volatile yield.
More specifically the Investment Manager will select securities with the goal of:

  • Benefitting from the growth in value of companies that consistently increase their dividends;
  • Balancing the portfolio with companies that offer both growth and income;
  • Taking advantage of market opportunities by momentarily undervaluing quality stocks with sustainable dividends.

Investment policy

The 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 Investment Manager may allocate up to 20% of its total net assets in Emerging Markets; the exposure to Emerging Markets may also be achieved by investing in ETFs. 

The Sub-Fund may invest up to 10% of the portfolio in bonds to reduce the overall volatility. All bonds will be at least 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. 

In case of unfavourable market conditions, the Sub-Fund may hold cash, on a temporary basis.

The Sub-Fund may invest up to ten per cent (10%) of its net assets in UCITS or other UCI, including ETFs, as referred to in art. 41, section 1, of the Law of 2010. 

The Sub-Fund may use financial techniques and instruments to promote an efficient portfolio management, in accordance with the restrictions set forth in section headed “Financial techniques and instruments”. The Sub-Fund will use only SFT as set forth in 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 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 
NAV calculation frequency Daily
Fund units publication Fundsquare.net

Fund ticker

ISIN code LU3053688654

Charges

Entry charge None
Exit charge None
Maximum management fees 1% on an annual basis
Performance fee 20% of the positive difference between the net return of the Fund and the Index
Minimum amount of the first subscription 500.000 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

In May, global equity markets delivered a positive performance, extending the upward trend that began in April and marking an exceptional nine week winning streak.

Monthly comment from the manager

The most notable feature of the rally was the strong and persistent momentum in companies linked to the transformative Artificial Intelligence theme, which has led to an increasingly high concentration in a limited number of large-cap stocks. The rally was supported by a mix of exogenous and endogenous factors. Growing expectations of a potential agreement between the United States and Iran contributed to a stabilization in Brent oil prices below USD 100 per barrel. At the same time, US 10 year Treasury yields declined, while overall market volatility fell sharply, returning to levels seen at the beginning of the year, with the VIX index dropping below 16.

Within the market, sector dynamics were more mixed. Brent prices remaining at relatively elevated levels helped provide some support to the energy sector, despite ongoing volatility linked to news flow. Weakness in consumer sectors was mitigated by the portfolio’s lower exposure relative to the benchmark. Utilities continued to benefit, albeit to a lesser extent, from strong energy demand driven by the ongoing expansion of data centers. Conversely, the rally in higher growth segments, also supported by easing interest rate pressures in the second half of the month, was a modest headwind for the portfolio.

Over recent weeks, portfolio activity included increasing exposure to Barratt, as well as adding to positions that had previously underperformed, such as Johnson & Johnson, Toyota and Danone. The position in Nestlé was fully exited, while new positions were initiated in Akzo Nobel, Accenture and McDonald’s. The portfolio now reflects more sustainable valuation multiples compared to the benchmark, alongside a higher expected dividend yield over a one year horizon.

Looking ahead, the current buoyant market environment is likely to be tested by persistent geopolitical uncertainty, evolving global inflation dynamics, and elevated valuations across several areas following the strong and concentrated rally seen in May. The investment approach will remain disciplined: avoiding potential value traps driven by superficially high dividend yields and instead focusing selectively on companies with strong cash flow generation, solid balance sheets, and the ability to offer a tangible risk premium.

Factsheet

Document Date of the document Download
Monthly report 12/06/2026 PDF get_app

Offer documents

Document Date of the document Download
KID 08/05/2025 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

Annual reports

Document Date of the document Download
Annual report 31/12/2025 PDF get_app

Notice

Document Date of the document Download
Notice of Merger METROPOLIS and High Dividend Equity 24/06/2025 PDF get_app
Fund manager
Paolo Baretto
Paolo Baretto
Team Investimenti Lussemburgo
Risk level
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
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