L1 Long Short Fund Limited

28 Feb 2018

Gamma Advisory

There has been positive publicity surrounding the upcoming listing in L1 Capital’s long short fund.  L1 Capital is an Australian based investment manager with the ability to be long and short stocks by exploiting market inefficiencies over the medium to long term.

Details of the offer are as follow:

  • Listing on ASX under code LSF
  • Expected listing date for Listed Investment Company (LIC) – 24th April 2018
  • Shares issued at $2.00
  • Size of offering – Up to $500m
  • Minimum investment – $5,000
  • Quality investment and management team with an impressive performance track record from L1’s flagship Australian Equities Fund since its inception in August 2007.
  • L1 Capital currently manages approximately $3bn
  • The investment managers of the fund will be investing a sizable amount into the company and have also agreed to reinvest the after-tax value of the performance fee paid by the Listed Investment Company, with a long-term escrow arrangement.
  • L1 Capital Long Short Fund has delivered an average compound annual return of 36.9% (after fees) since it was launched in September 2014.  Over the same period the S&P ASX200 Accumulation Index has achieved an average compound annual return of 6.9%.  Importantly, the existing fund’s historical returns have been achieved with significantly less volatility and market risk than the ASX200 Accumulation Index.
  • The LIC will hold between 40-60 long positions at any one time and 10-30 short positions.
  • The LIC is an actively managed fund with a high conviction value approach to quality companies with attractive valuations.
  • It will provide investors with access to International Equities of up to approximately 30% of the total fund.
  • This investment may be suitable for a diversified investment portfolio wanting exposure to an investment manager with a strong track record of returns.
  • The L1 Long Short Fund is Recommended by Zenith (please click on the link below to read the recommendation)

Zenith

Please click on the link below to view the prospectus.

l1_lsf_prospectus

This issue has already received high demand with NAB, Morgans, Morgan Stanley, Crestone, Ord Minnett, Taylor Collison, Bell Potter, FNZC, Hunter Capital Advisers, Macquarie, Pattersons, Wilsons and Shaw and Partners being involved in this issue.

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