Our Funds
 

L1 Capital is committed to offering clients best of breed investment products that can deliver exceptional risk adjusted returns. The entire investment team is significantly invested across L1 Capital products.

L1 Capital investment products:

01

L1 Capital Australian Equities Fund is a large cap, long only Australian equities fund. The Fund typically invests in 25-35 high quality companies that are fundamentally undervalued and have a positive outlook. The Fund’s objective is to outperform the S&P / ASX200 Accumulation Index by at least 3% p.a. over the long term.

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02

L1 Capital Long Short Fund is an absolute return fund that offers investors a highly diversified portfolio of long and short positions based on our fundamental bottom-up research process. The Fund’s objective is to deliver a net return of at least 10% p.a. to investors with considerably less market risk and volatility (on average).

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03

L1 Capital Global Opportunities Fund (USA) invests in structured investments, such as convertible bonds, along with primary market transactions to deliver strong positive returns to investors. The Fund has an absolute return approach with a strong focus on capital preservation and multi-layered risk management.

04

L1 Capital U.K. Residential Property Fund invests in high-yielding residential properties that can deliver strong and growing dividends, along with significant capital appreciation. The Fund aims to deliver investors a total return of at least 10% p.a., (after fees) with a large proportion of the returns paid out in regular dividends.

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L1 Capital Australian Equities Fund

  • 6.7% alpha p.a. (3 year, net return);
  • 4.3% alpha p.a. (net return since inception) 9.3% versus 4.9% for the S&P / ASX200 Accumulation Index
  • One of the best performing large cap, long only funds in Australia.

Note: Performance data current as at 31 July, 2018.

Fund Overview

Fund inception date 23 August 2007

Type of investments Australian shares

Large/small cap Large 70-90%, small 10-30%

Time Horizon At least 5 years

Investor type Retail/sophisticated/wholesale

Positions (typical) 25-35 positions

Cash levels (typical) 0-5%

Investment objective Outperform benchmark by 3% p.a. over rolling three year periods

Benchmark S&P ASX 200 Accum. Index

Tracking error (typical) 4-6%

Gearing No

Shorting No

Minimum investment AUD$25,000

Subscription Daily

Management Fee 0.77% inclusive of GST and RITC

Performance Fee 15.38% above ASX200AI

Fund Performance (%)

Period L1 Capital S&P ASX 200 Outperformance
One Year 11.68% 14.59% -2.91%
Three Years (p.a) 14.64% 7.98% 6.66%
Five Years (p.a) 14.32% 9.17% 5.15%
Ten Years (p.a.) 11.21% 7.05% 4.17%
Since Inception (p.a) 9.26% 4.94% 4.33%
Since Inception (cumulative) 165.03% 69.90% 95.12%
Net Performance as at 31 July 2018 for the Daily Class. Inception Date 23 August 2007. Past performance should not be taken as an indicator of future performance.

Monthly Performance (Growth of $10,000 invested since inception - Net)

Net Performance as at 31 July 2018 for the Daily Class. Inception Date 23 August 2007.
Past performance should not be taken as an indicator of future performance.

How to invest

To invest in the L1 Capital Australian Equities Fund please download and read the PDS and complete the application form.

Please read the Reference Guide which forms part of the PDS.

You can also contact us for further assistance.

L1 Capital Long Short Fund

  • The L1 Capital Long Short Fund is now closed to new investors, investors should consider the ASX-listed L1 Long Short Fund Limited to access the strategy.
  • 161.3% net return since inception; 31.2% net return p.a. since inception
  • 75 individual positions added +1% to performance
  • Strong positive returns across a wide range of sectors
  • Sharpe Ratio 2.6, Sortino Ratio 6.9

Note: Performance data current as at 31 July, 2018.

Fund Overview

Fund inception date 1 September 2014

Type of investments Australian shares, international shares, index futures, equity derivatives

Investment objective 10% p.a. net return over the long term

Time horizon At least 5 years

Investor type Retail/sophisticated/wholesale

Benchmark None

Gearing Yes

Shorting Yes

Positions (typical) 50-100 positions

International exposure 10-30%

Typical net exposure 30-100%

Max net exposure 150%

Max gross exposure 300%

HSBC SURVEY

‘Best Performing Hedge Fund Globally’ in 2015 and ‘Top 20 Hedge Fund Globally’ in 2016, 2017

EUREKAHEDGE

Winner ‘Best Asian Long/Short Equity Fund’ 2017

Zenith Awards

Winner Professional Planner | Zenith Fund Awards ‘Australian Equities – Alternative Strategies’ 2017

Monthly Performance (Net)

Period Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2014 - - - - - - - - (2.42) 3.03 2.85 1.61 5.07
2015 0.59 9.14 2.42 1.71 3.73 (0.86) 3.30 2.06 5.51 8.49 8.11 4.61 60.52
2016 5.81 0.59 5.47 2.46 2.78 (0.89) 3.22 3.92 0.46 (0.18) 0.55 2.13 29.43
2017 2.48 1.79 2.83 1.01 4.14 1.68 2.61 1.67 1.91 2.50 0.80 3.50 30.50
2018 0.54 (0.49) (1.68) 1.62 (3.76) (6.29) 0.82 (9.03)
Net Performance as at 31 July 2018 for the Daily Class. Inception Date 3 October 2016. Data prior to that date relates to the Monthly Class which has a different fee structure, inception date 1 September 2014. Past performance should not be taken as an indicator of future performance.

Monthly Performance (Net)

Net Performance as at 31 July 2018 for the Daily Class. Inception Date 3 October 2016. Data prior to that date relates to the Monthly Class which has a different fee structure, inception date 1 September 2014. Past performance should not be taken as an indicator of future performance.

Monthly Class

Fund inception date 1 September 2014

Minimum investment AUD$500,000

Subscription Monthly

Management fee 1.28% p.a. including GST less RITCs

Performance fee 20.5%

Daily Class

Fund inception date 3 October 2016

Minimum investment AUD$25,000

Subscription Daily

Management fee 1.54% p.a. including GST less RITCs

Performance fee 20.5%

Cayman Class

Fund inception date 5 January 2017

Minimum investment USD$250,000

Subscription Monthly

Management fee 1.25% p.a.

Performance fee 20.0%

How to invest

The L1 Capital Long Short Fund is now closed to new investors.

To access the Fund, investors should consider the L1 Long Short Fund LIC. To find out more, please visit www.L1LongShort.com or email info@L1longshort.com

L1 Capital Global Opportunities Fund

  • Convertibles and deal structuring fund. Managed by David Feldman in New York
  • 30.9% net return p.a. since inception
  • No negative months since inception

Note: Performance data current as at 31 October, 2017.

Fund Overview

Fund closed Fund closed

Fund inception date 1 June 2015

Geographic exposure Global

Investment objective 10% p.a. net return over the long term

Benchmark None

Investment Focus Primary market transactions including events, convertibles and new issues

Time Horizon At least 5 years

Minimum investment Fund closed

Subscription Fund closed

Management Fee 2%

Performance Fee 20%

Eurekahedge

Finalist ‘Best Asian Multi-Strategy Fund’ 2017

Monthly Performance (Net)

Period Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2015 6.30% 1.13% 1.36% 0.16% 9.90% 10.47% 2.54% 35.84%
2016 1.43% 0.71% 1.26% 1.25% 0.72% 0.78% 2.21% 1.54% 0.83% 1.47% 2.59% 2.14% 18.28%
2017 1.88% 2.56% 0.86% 0.48% 0.72% 1.14% 0.95% 2.14% 2.76% 4.33% 19.25%
Net Performance as at 31 October 2017. Inception Date 01 June 2015. Past performance should not be taken as an indicator of future performance.

Monthly Performance (Net)

Net Performance as at 31 October 2017. Inception Date 01 June 2015.
Past performance should not be taken as an indicator of future performance.

How to invest

Please note this Fund is currently closed to new and additional investments.

Please contact us if you would like to be informed if/when the fund reopens.

L1 Capital U.K. Residential Property Fund

Fund Overview

Fund inception date 31 August 2017

Type of investments Bulk purchase of U.K. residential property outside of London

Structure Closed end fund, 7 year maturity

Investor type Sophisticated/wholesale/retail investors

Investment objective 10% p.a. net return over the long term

Subscription The closed-end Fund II is open, applications due 29 June 2018

Management fee 0.5% excl GST p.a. on gross asset value

Performance fee 15% excl GST performance fee (7.5% IRR hurdle, with catch up)

Hurdle rate First year: AUD 3 month BBSW +1.0%, 7.5% IRR thereafter

Purchase/Sale fee 1% excl GST on purchase price. 1% excl GST on sale price.

Hedging Hedged or unhedged class available at investor’s discretion

Distributions Paid half yearly

Investment manager L1 U.K. Property Investments Pty Ltd

Responsible Entity Equity Trustees

Auditors EY

Administrator Apex Fund Services

Currency of units AUD

U.K. Residential house prices over 2001–17 (indexed to market peak Oct-07 = 100)

How to invest

The L1 Capital U.K. Residential Property Fund II is now open for applications until 29 June 2018.

You can also contact us if you would like more information or would like to be informed of the launch of another closed end fund.