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Main information

Fund name Leadersel PMI Class A
Benchmark 50% FTSE MIB TR NET and 50% FTSE Italia Mid Cap TR NET
Category Italian equity fund
Legal structure Luxembourg umbrella mutual fund
Currency Euro

Investment policy

The Fund aims to increase the value of its portfolio through the investment in equities denominated in Euro, issued by low, medium and high cap Italian issuers. It may use financial derivative instruments to promote a more efficient portfolio management. The Fund is not intended to reproduce the composition of the benchmark and can deviate significantly from the benchmark. Income generated by the Fund is reinvested and included in the value of shares. The Fund's value is calculated and expressed in Euros. Investors can buy or sell shares of the Fund on a daily basis.

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 LU1011691893

Charges

Entry charge None
Exit charge None
Maximum management fees 0.9% on an annual basis
Performance fee 20% of the positive difference between the net return of the Fund and an index consisting of 50% FTSE MIB TR NET and 50% FTSE Italia Mid Cap TR NET with a maximum of 2% of the average net asset value during the period.
Minimum amount of the first subscription 2.000.000 euro
Minimum amount of subsequent subscriptions -

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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1 year 3 years 5 years 10 years
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Annual chart

During August, the Italian equity market continued to trade within a broadly range-bound pattern, influenced not only by developments in the conflict between Iran and the United States, but also by inflation data, which will be pivotal in shaping central banks’ forthcoming policy decisions.

Monthly comment from the manager

The reporting season also drew to a close, delivering overall encouraging results, particularly within the banking and insurance sectors. The weakest area remained the automotive industry, where Stellantis continues to face pressure from the growing competitiveness of Chinese manufacturers. AI-related stocks experienced a marked increase in volatility, reflecting fluctuations across the broader technology sector.

Against this backdrop, utilities corrected, weighed down by higher interest rates, while oil stocks also underperformed. By contrast, financials and banks outperformed, with the ongoing consolidation process continuing to dominate the sector narrative. Across the mid- and small-cap universe, corporate results were generally positive as well. From a sector allocation perspective, we maintained our underweight positions in utilities and oil-related stocks, while continuing to favour financials.

Among our preferred holdings are Montepaschi and Unipol. During the month, we added to Sol and Fiera Milano, while exiting our positions in Iren, Acea and Ariston. Our most significant holdings within the small-cap segment remain Sol, Danieli risp, Mondadori and Philogen. 

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
Fund manager
Carlo De Vanna
Team Investimenti Equity Italia
Marco Nascimbene
Team Investimenti Equity Italia
Risk level
  • 1
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  • 6
  • 7
Rating
Morningstar star star star star star

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