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L1 Capital Catalyst Fund

Best ideas fund with an activist overlay focused on unlocking value in Australian companies
Accesses L1 Capital’s best stock ideas with the most attractive asymmetric return profile
Leverages L1 Capital’s Australian equities FuM, resourcing and relationships to build meaningful stakes and gain access to key stakeholders
Strategy supported by current market backdrop of elevated stock dispersion and numerous stock-specific catalysts, and strong activist opportunity set in Australia

Applying a hands-on ‘owner’s mindset’, the Fund typically invests in a concentrated portfolio of around 10 stocks that the team believes offers a compelling combination
of value and quality with a major positive catalyst to drive investor returns

Fund manager

James Hawkins

Partner and Head of the L1 Capital Catalyst Fund View bio

Fund overview

Fund launch date
1 July 2021
Investment approach
Seeks to identify high-quality, fundamentally undervalued companies that have clear, recognisable catalysts to deliver strong investment returns.
Investment objective
To deliver strong positive risk adjusted returns over the long term.
Benchmark
S&P/ASX 200 Accumulation Index
Holdings
Typically 10 stocks
Position sizes
Typically 5-15%
Geography
Australia (ASX 200 focused), with up to 30% international
Capitalisation
Medium and large cap focus
Cash
Up to 25% permitted, but seeks to be fully invested
Vehicle
Australian Unit Trust
Minimum investment
$25,000
Fees
Management fee 1.28% p.a.
Performance fee 20.5% over Benchmark
High watermark Yes
Zenith rating^
Highly Recommended
Lonsec rating†
Recommended
Platform availability
• Australian Money Market
• BT Panorama
• CFS FirstChoice
• CFS FirstWrap
• HSBC
• Hub24
• Macquarie Wrap
• Mason Stevens
• Xpand
• Netwealth
• North*
• Powerwrap
• Praemium

* Managed accounts only
Investment Committee
The Investment Committee comprises:
James Hawkins | Partner and Head of the L1 Capital Catalyst Fund
Raphael Lamm | Joint Managing Director and Co-Chief Investment Officer
Mark Landau | Joint Managing Director and Co-Chief Investment Officer
Investment Manager
L1 Capital Strategic Equity Management Pty Limited (ACN 648 751 928), an authorised representative (no. 1286013) of L1 Capital Pty Ltd (ACN 125 378 145, AFSL 314 302).

Fund performance

Net performance as at **DATE**. Inception Date 1 July 2021. Figures may not sum exactly due to rounding. Past performance should not be taken as an indicator of future performance.
* S&P/ASX 200 Accumulation Index.

Fund reports

Download
March 2024
December 2023
September 2023
June 2023
March 2023
December 2022
September 2022
June 2022

Fund insights

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Invest now in the L1 Capital Catalyst Fund

Additional resources
Product Disclosure Statement (PDS)
Target Market Determination (TMD)
Reference Guide (RG)
Additional Application Form
Redemption Form
Latest Investor webinar

Please contact us for further assistance.

Information contained in this publication

Equity Trustees Limited (“Equity Trustees”) (ABN 46 004 031 298), AFSL 240975, is the Responsible Entity for the L1 Capital Catalyst Fund ARSN 650 484 263. Equity Trustees is a subsidiary of EQT Holdings Limited (ABN 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX: EQT).

This page has been prepared by L1 Capital Strategic Equity Management Pty Limited (ACN 648 751 928), (an authorised representative (no. 1286013) of L1 Capital Pty Ltd (ACN 125 378 145, AFSL 314 302)) and its officers and employees (collectively “L1 Strategic”), to provide you with general information only. In preparing it, we did not take into account the investment objectives, financial situation or particular needs of any particular person. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information. Neither L1 Strategic, Equity Trustees nor any of its related parties, their employees or directors, provide any warranty of accuracy or reliability in relation to such information or accepts any liability to any person who relies on it. All performance numbers are quoted after fees. Past performance should not be taken as an indicator of future performance. You should obtain a copy of the Product Disclosure Statement before making a decision about whether to invest in this product.

The L1 Capital Catalyst Fund’s Target Market Determination is available here. A Target Market Determination is a document which was required to be made available from 5 October 2021. It describes who this financial product is likely to be appropriate for (i.e. the target market), and any conditions around how the product can be distributed to investors. It also describes the events or circumstances where the Target Market Determination for this financial product may need to be reviewed.

Copyright

Copyright in this publication is owned by L1 Strategic. You may use this information in this publication for your own personal use, but you must not (without L1 Strategic’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.

^ Zenith

The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (Zenith) rating assigned to L1 Capital Catalyst Fund (Jun 23) referred to in this document is limited to General Advice (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at http://www.zenithpartners.com.au/RegulatoryGuidelines

† Lonsec

The rating issued for L1 Capital Catalyst Fund (Oct 23) is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. Copyright 2023 Lonsec. All rights reserved.

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