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.

More Information

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).

More Information

03

L1 Capital International Fund was launched in March 2019 and aims to deliver attractive risk-adjusted returns over a long-term investment horizon by investing in high quality companies that it understands well and that have favourable cashflow-based valuations. The portfolio is concentrated with between 20-40 high conviction positions.

More Information

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.

More Information

05

L1 Capital Global Opportunities Fund (USD) 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.

L1 Capital Australian Equities Fund

  • 3.3% alpha p.a. (net return since inception) 8.4% versus 5.1% 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 May, 2019.

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 (%)

PeriodL1 CapitalS&P/ASX200AIOutperformance
One Year-0.1%11.1%-11.2%
Three Years (p.a)10.6%10.6%0.0%
Five Years (p.a)10.9%7.7%3.2%
Ten Years (p.a.)11.4%10.0%1.4%
Since Inception (p.a)8.4%5.1%3.3%
Since Inception (cumulative)159.4%80.3%79.1%
Net Performance as at 31 May 2019 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 May 2019 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

  • 129.7% net return since inception; 19.1% net return p.a. since inception
  • 70 individual positions added +1% to performance
  • Strong positive returns across a wide range of sectors
  • Sharpe Ratio 1.6, Sortino Ratio 3.1

Note: Performance data current as at 31 May, 2019.

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)

PeriodJanFebMarAprMayJunJulAugSepOctNovDecYear
2014--------(2.42)3.032.851.615.07
20150.599.142.421.713.73(0.86)3.302.065.518.498.114.6160.52
20165.810.595.472.462.78(0.89)3.223.920.46(0.18)0.552.1329.43
20172.481.792.831.014.141.682.611.671.912.500.803.5030.50
20180.54(0.49)(1.68)1.59(3.77)(6.31)0.79(5.93)(2.13)(4.01)(2.62)(6.07)(26.60)
20194.335.140.192.82(2.809.83
Net performance as at 31 May 2019 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 May 2019 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 Fund (USD)

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.

L1 Capital International Fund

  • L1 Capital International believes that quality and value are the key drivers of long-term shareholder returns and applies a detailed fundamental investment process.
  • Capital preservation over the investment horizon is central to our investment philosophy and process.
  • Please visit www.L1International.com for additional information on this Fund.

 

Fund Overview

Fund inception date 1 March 2019

Type of investments High quality global leading companies

Investor type Retail/sophisticated/wholesale

Benchmark MSCI World Net Total Return Index in AUD

Minimum investment AUD$25,000

Subscription Daily

Investment objectives Outperform Benchmark over rolling five year periods (net of fees) and deliver attractive risk-adjusted returns over a medium to long term investment horizon whilst lowering the risk of a permanent loss of capital

Positions 20-40

Cash levels 0-25%, typically around 10%

Gearing No

Shorting No

FX Exposure Unhedged

Management Fee 1.2% inclusive of GST and RITC

Performance Fee 15% above MSCI World Net Total Return Index in AUD subject to any underperformance being recouped. There must be positive absolute performance (adjusted for distributions) in the Performance Period (otherwise positive relative performance is carried forward to the next Performance Period)

Sector Exposure

Industry classification is internally defined to best describe the nature of the underlying businesses

Revenue Exposure by Region

Revenue by region is estimated on a look through basis based on the underlying revenues of the individual companies held in the portfolio

Market Capitalisation Exposure (in US$)

How to invest

To invest in the L1 Capital International 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. Further information is available at www.L1International.com.

L1 Capital U.K. Residential Property Fund

Fund Overview

Fund inception date Fund I 31 August 2017; Fund II 31 July 2018; Fund III 31 July 2019

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 III is open, applications due 31 July 2019

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 2004–18 (indexed to market peak Oct-07 = 100)

How to invest

The L1 Capital U.K. Residential Property Fund III is open and will accept applications up until 31 July 2019.

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

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)

PeriodJanFebMarAprMayJunJulAugSepOctNovDecYear
20156.30%1.13%1.36%0.16%9.90%10.47%2.54%35.84%
20161.43%0.71%1.26%1.25%0.72%0.78%2.21%1.54%0.83%1.47%2.59%2.14%18.28%
20171.88%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.