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Main information

Fund name Globersel Equity Value Class B - 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 LU2018618707
Bloomberg GLBEVMB LX

Charges

Entry charge None
Exit charge None
Maximum management fees 1% on an annual basis
Performance fee 10% 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 500.000 Eur
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

The month of November ended with high dispersion of stock returns both geographically and sectorally. US indices were broadly positive (S&P and NASDAQ +6%), responding favourably to Trump's second term and demonstrating overall optimism.

Monthly comment from the manager

Particularly, some areas began to price in especially favourable conditions: the financial sector seems to anticipate greater deregulation and a revival of M&A activities, along with sustained higher interest rates, while the industrial sector is already pricing in an incrementally favourable scenario for domestic investments (with multiples reaching historical highs). Europe continues to underperform compared to the United States (Eurostoxx -1%, Stoxx600 +1%).

Current multiples seem to anticipate the impact of direct and indirect tariffs, and a generally deteriorating sentiment, evidenced by strong government bond purchases, where yields are tightening (Bund -30bps, BTP -38bps). The weakness of emerging markets (MSCI EM -4%) continues, particularly in China (HK -4%), still awaiting convincing growth stimuli and characterized by a condition of uncertainty that has intensified following Trump's re-election.

The election outcome also pushes the greenback higher (+3% vs EUR, +2% vs CNY, MXN, +3% vs BRL, +6% vs RBL), while profit-taking is recorded in energy and especially precious commodities. During the month, the growth and small-cap factor was favoured. Sectors preferred during the month were financials and especially discretionary consumer goods. The fund recorded a positive absolute performance, below its benchmark during the period.

The sectoral allocation provided a positive contribution, but stock selection was negative, primarily due to Andritz and Kubota. No new movements were made.

Factsheet

Document Date of the document Download
Monthly report 18/12/2024 PDF get_app

Offer documents

Document Date of the document Download
KID 01/03/2024 PDF get_app
KID ES 01/03/2023 PDF get_app
Management rules 05/02/2019 PDF get_app
Prospectus 08/01/2024 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
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  • 3
  • 4
  • 5
  • 6
  • 7
Rating
Morningstar star star star star star
CFS Rating star star star star star

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