L1 Capital Long Short Fund

  • Australia’s best performing long short fund (since inception in 2014)*
  • 18.6% net return p.a. since inception
  • Strong positive returns across a wide range of sectors.

Note: Performance data current as at 31 October 2023. *Ranking in FE Analytics Australian Shares universe.

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

Shorting Yes

Positions (typical) 50-100 positions

International exposure 10-30%

Typical net exposure 30-100%

Max net exposure 150%

Max gross exposure 300%


Winner | Zenith Fund Awards ‘Australian Equities – Alternative Strategies’ 2022


Winner | Alt. Inv. Manager of the Year 2021 & Best Listed Alt. Inv. Product (ASX:LSF) 2021 & 2022


‘Best Performing Hedge Fund Globally’ in 2015 and ‘Top 20 Hedge Fund Globally’ in 2016, 2017 and 2021


Winner | ‘Best Asian Long/Short Equity Fund’ in 2017, Ranked Top 5 for returns in 2020 for large APAC-based HFs

Monthly Performance (Net)


Fund Performance vs Global Indices (Net)

PeriodCumulative ReturnAnnualised Return (p.a.)
L1 Capital Long Short Fund (Net)376.818.6
S&P/ASX 200 Accumulation Index76.06.4
MSCI World Net Total Return Index (USD)86.37.0
HFRX Global Hedge Fund Index10.11.1
Net performance as at 31 October 2023 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%

Listed Investment Company (LIC)

Fund inception date 24 April 2018

Subscription Listed on ASX

Website www.L1longshort.com

Management fee 1.44% p.a. including GST less RITCs

Performance fee 20.0%

Cayman - Offshore Feeder (USD denominated)

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

To invest in the L1 Capital Long Short Fund please download and read the appropriate PDS (above) and complete the application form.

You can also contact us for further assistance.

Information contained in this page
The opinions, advice, recommendations and other information contained on this page, whether express or implied, are published or made by L1 Capital Pty Ltd (ABN 21 125 378 145), Australian Financial Services Licence (314302), and by its officers and employees (collectively “L1 Capital”) in good faith in relation to the facts known to it at the time of preparation. L1 Capital has prepared this publication without consideration of the investment objectives, financial situation or particular needs of any individual investor, and you should not rely on the opinions, advice, recommendations and other information contained in this publication alone. This publication contains general financial product advice only.
Disclaimer and limitation of liability
To the maximum extent permitted by law, L1 Capital will not be liable in any way for any loss or damage suffered by you through use or reliance on this information. L1 Capital’s liability for negligence, breach of contract or contravention of any law, which cannot be lawfully excluded, is limited, at L1 Capital’s option and to the maximum extent permitted by law, to resupplying this information or any part of it to you, or to paying for the resupply of this information or any part of it to you.
Copyright in this page is owned by L1 Capital. You may use this information in this publication for your own personal use, but you must not (without L1 Capital’s consent) alter, reproduce or distribute any part of this publication, transmit it to any other person or incorporate the information into any other document.