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Main information

Fund name Leadersel PMI HD Class B
Category Flexible 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 Ernst & Young S.A.
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 67 5999
  • 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 LU1132340321
Bloomberg GPMIHDB:LX

Charges

Entry charge None
Exit charge None
Maximum management fees Max 1.75% on an annual basis
Performance fee 15% of the positive difference between the net return of the Fund and 2% with a maximum of 1.5% of the average net asset value during the period.
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

1 year 3 years 5 years 10 years
Fund - - - -
Benchmark - - - -
1 year 3 years 5 years 10 years
Fund - - - -
Benchmark - - - -
1 year 3 years 5 years 10 years
Fund - - - -
Benchmark - - - -

Annual chart

In October, markets returned to year-to-date highs, despite persistent uncertainties surrounding the U.S.- China trade war and the ongoing conflict in Ukraine.

Monthly comment from the manager

Within this environment, the best-performing sectors were financials, energy, and utilities, while cyclicals and automotive stocks struggled. The month also marked the beginning of earnings season. STM reported results below expectations and further revised down its 2026 guidance. Stellantis disappointed investors hoping for a margin recovery. Unicredito’s results were broadly in line, though they failed to positively surprise market expectations.

Looking ahead to November, the bulk of corporate earnings will be released. We have increased our allocation to financials, where we favor Intesa, Unipol, and asset management names. Conversely, we have trimmed exposure to utilities, which are trading near all-time highs, and reduced our positioning in energy. On the long portfolio, we continue to increase our allocation to mid and small caps, now representing approximately 67% of the portfolio. Valuations in this segment remain compelling, and the underperformance relative to large caps appears excessive.

Specifically, we initiated positions in Moltiply, Mondadori, Sogefi, Italian Wine Brand, and Cairo, while exiting Orsero and Fincantieri. We did not participate in the Avio placement. Among small caps, our most significant positions include Sol, Danieli risp, Mondadori, and Philogen. With the gradual easing of trade war-related uncertainty, we brought our invested quota back to 100% during the month.

Factsheet

Document Date of the document Download
Monthly report 21/11/2025 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 15/04/2025 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 Globersel Alkimis Equity Alpha into Leadersel PMI HD 06/10/2025 PDF get_app
Fund manager
Marco Nascimbene
Team Investimenti Equity Italia
Carlo De Vanna
Team Investimenti Equity Italia
Eugenio Raiteri
Team Investimenti Multi Asset
Risk level
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
Rating
Morningstar star star star star star
CFS Rating star star star star star

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