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Main information

Fund name Globersel Equity Value Class A - Metropolis
Benchmark 100% MSCI World Index
Category International Equity Fund
Legal structure Luxembourg umbrella mutual fund
Currency Euro

Investment object

The main objective of the sub-fund is the appreciation of the capital value over a long period of time (approximately 5 years) with a high level of risk.

Investment policy

The sub-fund invests in shares of companies selected according to high quality criteria, undervalued by the market in relation to their ability to generate income streams in the future, according to a value approach. Investments are concentrated in a limited portfolio (15-25 securities), with low turnover, around 5 years.

ESG, environment, society, governance

The investment process integrates environmental, social and governance factors. The fund monitors the ESG (Environmental, Social and Governance) profile of the investments and can take a position on issues that could have a negative impact on the matter.

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 LU2018618616
Bloomberg GLBEVMA LX

Charges

Entry charge None
Exit charge None
Maximum management fees 1.5% on an annual basis
Performance fee 20% calculated on the positive difference between the net return of the Sub-Fund and the MSCI World Index in the reference calendar year (Reference Period).
Minimum amount of the first subscription 2.500 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

December saw a slowdown in global equity markets, mainly due to rising bond yields in the US and Europe, which put pressure on stock indices. In the United States, the S&P 500 lost -2.5%, while the Nasdaq showed greater resilience with a modest gain of 0.5%, supported by the technology sector.

Monthly comment from the manager

In Europe, the weakness was more contained, with the Eurostoxx 600 down -0.5% and the FTSE 100 falling -1.4%. In contrast, Japan continued its strong growth, with the Topix up +3.9%, driven by a decline in the yen against the US dollar (+5.0%) and other major currencies. This currency movement favored exports and improved the competitiveness of Japanese companies. Similarly, the Hang Seng delivered a positive performance (+3.3%), signaling a recovery in China despite ongoing structural challenges weighing on investor sentiment in emerging markets (MSCI EM -0.3%).

In fixed income markets, rising yields dominated the landscape. US 10-year Treasury yields increased by 40.2bps, while German Bund yields rose by 27.8bps. This relative movement between the US and Europe contributed to a further weakening of the euro against the dollar (-2.1%), reflecting expectations of economic divergence and more restrictive monetary policies in the US. Among commodities, oil gained +5.5%, supported by stable demand, while gold saw a slight decline (-0.7%) in a context of reduced risk aversion. From an investment factor perspective, the weakness of value stocks (-5.8%) and global small caps (-6.1%) persisted, while growth stocks (+0.4%) showed greater resilience.

Momentum and minimum volatility factors also suffered significant losses (-2.7% and -5.0%, respectively), highlighting a year-end repositioning by investors. The fund posted a negative absolute performance, underperforming its benchmark during the period. Sector allocation and stock selection both contributed negatively, with notable impacts from Ashtead and Comcast. No new moves were made.  

Offer documents

Document Date of the document Download
PRIIPS KID 01/03/2024 PDF get_app
KIID (UK INVESTORS) 01/01/2023 PDF get_app
Management rules 05/02/2019 PDF get_app
Prospectus 08/01/2024 PDF get_app
Addendum to the Prospectus for Investors in the UK 01/07/2022 PDF get_app
Annual reporting requirements 31/12/2022 PDF get_app

Semi-annual reports

Document Date of the document Download
Semi annual report 30/06/2024 PDF get_app

Annual reports

Document Date of the document Download
Annual report 31/12/2023 PDF get_app
Annual Report CH 31/12/2021 PDF get_app
Annual Report DE 31/12/2021 PDF get_app
Fund manager
Metropolis Capital Limited
Gestore in delega
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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