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L1 Long Short Fund Ltd. ( (AU:LSF) ) has issued an announcement.
L1 Long Short Fund Ltd. reported a 2.3% return for its portfolio in July, slightly underperforming the ASX200AI’s 2.4% return. The fund has shown strong performance over the past five years, with an annualized return of 22.0%, significantly outpacing the ASX200AI’s 12.3%. The global market environment in July was favorable, with easing trade tensions and strong U.S. corporate earnings, contributing to a rally in equity markets. The fund benefited from strong performances in resources and strategic short positions in domestic banks. Notably, Mineral Resources and Imdex were key contributors to the portfolio’s success, while Hudbay Minerals detracted due to a decline in copper prices. The announcement highlights the fund’s strategic focus on undervalued offshore stocks and sectors like infrastructure, gold, and copper, indicating a positive outlook for medium-term returns.
More about L1 Long Short Fund Ltd.
Average Trading Volume: 506,698
Technical Sentiment Signal: Strong Buy
For detailed information about LSF stock, go to TipRanks’ Stock Analysis page.