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The latest announcement is out from L1 Long Short Fund Ltd. ( (AU:LSF) ).
L1 Long Short Fund reported a 6.2% portfolio return in April, beating the ASX200AI’s 2.2% and lifting its calendar year-to-date gain to 6.0% versus 0.5% for the benchmark. Over the past 12 months the portfolio has surged 54.8% against 10.1% for the index, and since strategy inception in 2014 it has delivered 19.9% annualised, making it one of Australia’s strongest long short performers.
The latest results came amid a volatile backdrop of Middle East conflict, rising fuel-driven inflation and expectations of tighter monetary policy that weighed on rate-sensitive Australian stocks. The fund benefited from strong contributions by Materials and Industrials holdings such as Mineral Resources, James Hardie and Goodman Group, and management sees current war-induced volatility as an opportunity to buy high-quality companies at depressed valuations, leaving the portfolio positioned with attractive earnings growth and moderate leverage.
More about L1 Long Short Fund Ltd.
L1 Long Short Fund Ltd., listed on the ASX under ticker LSF, is an Australian long short equity fund focused on outperforming the S&P/ASX 200 Accumulation Index. The fund invests across Australian and global markets using both long and short positions, with significant exposure to materials, industrials and other cyclical sectors to capture market dislocations and volatility.
Average Trading Volume: 509,817
Technical Sentiment Signal: Buy
For a thorough assessment of LSF stock, go to TipRanks’ Stock Analysis page.