Strong FY26 Financial Results
L1 Long Short Fund Reports AU$634.6 Million Profit and Strong Outperformance
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Key Points
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Transition from Platinum Capital Limited to L1 Global Long Short Fund Limited occurred on 28 November 2025, with L1 Capital appointed as Investment Manager; post-transition portfolio returned 11.90% net to 30 June 2026, versus MSCI World USD 10.6% over the same period.
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Annual General Meeting is scheduled for 10 November 2026, with director nominations due by 15 September 2026 (5:00 pm AEST) as part of the DRP and governance timetable.
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Longer-term performance metrics disclosed include 3-year annualised return of 20.6% p.a., 5-year 16.9% p.a., and 14.7% p.a. since the IPO in April 2018.
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Dividend reinvestment plan details include a 0% discount; the reinvestment price is based on a five-day VWAP around the ex-dividend date, with DRP elections due by 3 September 2026 and payment on 23 September 2026; New Zealand shareholders may elect to receive NZD.
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Corporate governance disclosures comprise four documents, including Appendix 4G and the Corporate Governance Statement published on the website; Appendix 4G confirms adherence to Corporate Governance Council Principles and covers board charter disclosures, director appointment checks, written agreements with directors and senior executives, and the accountability of the company secretary to the chair, along with a diversity policy.
L1 Long Short Fund Limited posted a strong FY26 result, reporting net profit after tax of AU$634.6 million and earnings per share of 100.41 cents. The fund delivered a 12-month net return of 45.4% to 30 June 2026, vastly outperforming the ASX 200 Accumulation Index's 6.1% benchmark TipRanks. The company declared a final dividend of 3.80 cents per share fully franked, bringing total FY26 dividends to 14.60 cents.
Net tangible assets per share reached AU$4.3222 before tax and AU$3.9522 after tax as of 30 June 2026. The fund's strong performance reflects continued gains since its transition to L1 Global Long Short Fund Limited on 28 November 2025, when L1 Capital took over as Investment Manager TipRanks.
Post-Transition Portfolio Outperforms Global Benchmarks
Following the November 2025 rebrand, the fund's portfolio returned 11.90% net to 30 June 2026, beating the MSCI World USD benchmark of 10.6% over the same period TipRanks. This strong post-transition performance demonstrates the new investment management team's ability to deliver results. The achievement marks a successful beginning for L1 Capital's stewardship of the fund.
Long-Term Returns Show Consistent Outperformance
L1 Long Short Fund's multi-year track record displays steady gains. The 3-year annualised return stands at 20.6% per annum, the 5-year at 16.9% per annum, and 14.7% per annum since the April 2018 IPO TipRanks. These figures show the fund has delivered strong results through multiple market cycles. The consistent performance underpins investor confidence in the fund's strategy.
Dividend Reinvestment Plan Active With Zero Discount
The Dividend Reinvestment Plan remains active for shareholders wanting to reinvest distributions. The plan offers a zero-discount framework, with the reinvestment price based on a five-day volume-weighted average price around the ex-dividend date TipRanks. The ex-date is 1 September 2026, and elections are due by 3 September 2026. Payment follows on 23 September 2026. New Zealand shareholders may elect to receive dividends in NZD.
Corporate Governance Disclosures Filed and Confirmed
L1 Long Short Fund has filed four governance-related documents, including the Appendix 4G and Corporate Governance Statement published on its website TipRanks. The Appendix 4G confirms adherence to Corporate Governance Council principles and covers board charter disclosures, director appointment checks, and written agreements with directors. The company also disclosed its diversity policy and confirmed the company secretary's accountability to the chair.
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