Key Takeaways
- • L1 Long Short Fund Limited (ASX: LSF) delivered a net portfolio return of 12.7% for the three months ended 30 June 2026, outperforming the S&P/ASX 200 Accumulation Index return of 4.0% by 8.7 percentage points.
- • Calendar year-to-date performance through June 2026 reached 12.5%, with the fund posting an 8.2% return for the calendar year-to-date period against the ASX 200 AI benchmark of 4.2%.
- • The fund has demonstrated consistent outperformance over longer periods, delivering 11.9% per annum over the past three years compared to the ASX 200 AI benchmark of 6.4% per annum.
- • L1 Long Short Fund is positioned as Australia's best-performing long short fund since inception in 2014, utilizing both long and short positions predominantly in Australian securities with selective global exposure.
- • The fund maintains a Dividend Reinvestment Plan (DRP) that allows shareholders to automatically reinvest dividends into additional LSF shares at a discount to market price without brokerage fees.
Summary
L1 Long Short Fund Limited (ASX: LSF) reported strong quarterly performance as of 30 June 2026, with the fund's portfolio returning 12.7% for the three-month period. This result significantly exceeded the S&P/ASX 200 Accumulation Index, which returned 4.0% over the same timeframe, representing an outperformance spread of 8.7 percentage points. The fund's June quarter performance was achieved despite a -0.7% monthly return in June itself, as the ASX 200 AI rose 0.7% during that month.
For the broader calendar year-to-date period through 30 June 2026, LSF reported a net return of 12.5%, maintaining a substantial performance advantage over the ASX 200 AI benchmark return of 4.2%. The fund's year-to-date calendar performance of 8.2% continues to demonstrate its consistent ability to deliver alpha in challenging market conditions. Over a longer investment horizon, the fund has delivered 11.9% per annum over the past three years, compared to 6.4% per annum for the ASX 200 AI benchmark—a spread of 5.5% annually.
L1 Capital manages the fund through a long-short equity strategy that primarily focuses on Australian securities while maintaining selective exposure to global markets. The fund's objective is to deliver net returns of at least 10% per annum while providing considerably less market risk and volatility on average than traditional equity benchmarks. Since its inception in September 2014 (with the ASX-listed vehicle LSF established on 24 April 2018), the fund has established itself as Australia's best-performing long short fund, supported by a global management platform with offices in Melbourne, Sydney, Miami, and London.
The fund provides shareholders with a Dividend Reinvestment Plan (DRP) enabling automatic reinvestment of dividend distributions into additional LSF shares, typically at a discount to the prevailing market price and without incurring brokerage fees. This structure allows long-term investors to compound returns while avoiding transaction costs associated with manual reinvestment strategies.
For the broader calendar year-to-date period through 30 June 2026, LSF reported a net return of 12.5%, maintaining a substantial performance advantage over the ASX 200 AI benchmark return of 4.2%. The fund's year-to-date calendar performance of 8.2% continues to demonstrate its consistent ability to deliver alpha in challenging market conditions. Over a longer investment horizon, the fund has delivered 11.9% per annum over the past three years, compared to 6.4% per annum for the ASX 200 AI benchmark—a spread of 5.5% annually.
L1 Capital manages the fund through a long-short equity strategy that primarily focuses on Australian securities while maintaining selective exposure to global markets. The fund's objective is to deliver net returns of at least 10% per annum while providing considerably less market risk and volatility on average than traditional equity benchmarks. Since its inception in September 2014 (with the ASX-listed vehicle LSF established on 24 April 2018), the fund has established itself as Australia's best-performing long short fund, supported by a global management platform with offices in Melbourne, Sydney, Miami, and London.
The fund provides shareholders with a Dividend Reinvestment Plan (DRP) enabling automatic reinvestment of dividend distributions into additional LSF shares, typically at a discount to the prevailing market price and without incurring brokerage fees. This structure allows long-term investors to compound returns while avoiding transaction costs associated with manual reinvestment strategies.
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