About Leumi Global Managers
Leumi Global Managers Fund is a SICAV based in Luxembourg, one of Europe's principal fund centers. A SICAV is an open-ended investment fund. In an open-ended fund, investors can enter or leave on an on-going basis (in the Company's case every day) and the size of the Company adjusts accordingly with new shares being issued, or existing shares withdrawn. As investors enter the Company, they purchase shares at the same Net Asset Value per share as the share is currently valued. This puts new and existing shareholders on the same footing.
The Company is a so-called umbrella fund. Presently, 6 sub-funds are open for investment:
1. LGM Equity Sub-Fund
2. LGM Conservative 80/20 US Dollar Sub-Fund;
3. LGM Conservative 80/20 EURO Sub-Fund;
4. LGM Conservative 80/20 Global Sub-Fund;
5. LGM Dynamic Fixed Income Sub-Fund;
6. LGM Dynamic Equity Sub-Fund
7. LGM European Equity Sub-Fund
Regulation
Leumi Global Managers Fund has a permit from, and falls under the regulation of the Luxemburg regulatory authority, Commission de Surveillance du Secteur Financier (CSSF). As such it must comply with numerous requirements, most of which are described in the Company's prospectus. The legislation under which the Company operates is based on a European Union directive. The Company is subject to Part II of the law of 20 December 2002 and without an “European passport”, and is therefore not freely marketed throughout the EU. Leumi Global Managers Fund is currently only registered with the CSSF, allowing it to be sold to the general public in Luxembourg.
Listing
Leumi Global Managers Fund is listed on the Luxemburg Stock Exchange.
Fee Structure
The Company's fee structure is composed of an annual management fee fixed between 1 and 1.5% of assets under management, depending on the relevant Sub-fund irrespective of performance.
Fee Summary
- Annual management and distribution fee:
- LGM Equity Sub-Fund – 1.5% of the Net Asset Value (NAV)
- LGM Conservative 80/20 US Dollar Sub-Fund – 1% of the NAV
- LGM Conservative 80/20 Euro Sub-Fund – 1% of NAV
- LGM Conservative 80/20 Global Sub-Fund – 1% of NAV
- LGM Dynamic Fixed Income Sub-Fund – 1.4% of NAV
- LGM Dynamic Equity Sub-Fund – 1.5% of NAV
- LGM European Equity Sub-Fund – 1.5% of NAV
Subscription fee: max 5%
Redemption fee: none
Buy and Sell Spreads
Investors in Leumi Global Managers Fund do not pay a spread as shares are issued or redeemed directly by the Fund. The market price for subscriptions and redemptions (excluding the redemption fee) is exactly the same as the NAV per share. In many funds, which are traded on an exchange, investors pay a spread based upon the difference between the market price and the fund's NAV when buying or selling. This can amount to 1% or even more.
Service Providers
The Fund is supported by several reputable and professional organisations. Brown Brothers Harriman (Luxembourg S.C.A. (“BBH”) serves as custodian, which, among other activities involves safe-keeping the Fund's assets such as shares and cash. The administrator of the Company is BBH. As such, BBH is responsible for calculating the Net Asset Value, maintaining the shareholder registry and, generally, taking care of most administrative matters. Bank Leumi (Luxembourg) S.A. acts as investment manager, which in turn, delegated this function to SEI Investments (Europe) Limited, who is responsible for making the investment decisions.
The Company's auditor is KPMG.
N.A.V. (Net Asset Value) Financial Times
Disclaimer : An investment company carries with it a degree of risk. The value of an investment can go up and down and you can loose money on your investment. Past performance provides no guarantee for the future.
