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)
| Period | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year |
| 2014 | - | - | - | - | - | - | - | - | (2.4) | 3.0 | 2.9 | 1.6 | 5.1 |
| 2015 | 0.6 | 9.1 | 2.4 | 1.7 | 3.7 | (0.9) | 3.3 | 2.1 | 5.5 | 8.5 | 8.1 | 4.6 | 60.5 |
| 2016 | 5.8 | 0.6 | 5.5 | 2.5 | 2.8 | (0.9) | 3.2 | 3.9 | 0.5 | (0.2) | 0.6 | 2.1 | 29.4 |
| 2017 | 2.5 | 1.8 | 2.8 | 1.0 | 4.1 | 1.7 | 2.6 | 1.7 | 1.9 | 2.5 | 0.8 | 3.5 | 30.5 |
| 2018 | 0.5 | (0.5) | (1.7) | 1.6 | (3.8) | (6.3) | 0.8 | (5.9) | (2.1) | (4.0) | (2.6) | (6.1) | (26.6) |
| 2019 | 4.3 | 5.1 | 0.2 | 2.8 | (2.8) | 3.8 | 1.2 | 0.4 | 2.6 | 3.3 | 0.3 | 2.2 | 25.9 |
| 2020 | (7.8) | (7.1) | (23.0) | 22.9 | 11.0 | (2.2) | (2.0) | 10.0 | 0.5 | (2.6) | 30.8 | 4.3 | 26.5 |
| 2021 | (0.1) | 9.1 | (0.1) | 5.0 | 4.1 | (0.6) | 1.8 | 5.2 | 4.8 | 2.3 | (7.2) | 3.6 | 30.4 |
| 2022 | 2.7 | 7.0 | 1.4 | 3.3 | 0.1 | (13.7) | (4.7) | 5.9 | (8.0) | 5.1 | 8.1 | 4.2 | 9.4 |
| 2023 | 3.7 | (2.0) | 0.6 | 1.8 | (3.4) | 1.8 | 5.4 | (4.7) | 0.9 | (3.1) | 0.4 |
Fund Performance vs Global Indices (Net)
| Period | Cumulative Return | Annualised Return (p.a.) |
| L1 Capital Long Short Fund (Net) | 376.8 | 18.6 |
| S&P/ASX 200 Accumulation Index | 76.0 | 6.4 |
| MSCI World Net Total Return Index (USD) | 86.3 | 7.0 |
| HFRX Global Hedge Fund Index | 10.1 | 1.1 |
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
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.
- T +61 3 9286 7000
- F +61 3 9286 7099
- E info@L1.com.au
- Level 45, 101 Collins Street
Melbourne Victoria 3000
Australia
