L1 Capital’s long short fund declares 3.5c dividend, moves to quarterly payouts
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The news: L1 Capital’s listed Long Short Fund has declared a 3.5c dividend that will be payable on 5 December, as the fund moves to quarterly payments from twice yearly.
The numbers: In the five years to the end of FY25, dividends increased by a 23% compound annual growth rate.
The fund has delivered a net return of 23% over the 12 months to 31 October 2025, 17% per annum over the last three years and 12.7% per annum since initial public offering in April 2018.
In October, the fund returned 2.3% putting the calendar year performance at 31.6%.
The context: Australian equity performance in October was mainly driven by gold, copper and critical minerals stocks. This offset losses for tech and consumer discretionary stocks amid valuation concerns and a weaker macroeconomic backdrop.
The fund told the exchange that it believes the “Australian equity index is now fully valued, with several large cap stocks trading far above historical multiples and global peers”.
The fund is looking overseas to find “numerous undervalued stocks” with a compelling investment case. It considers the best opportunities globally to be “infrastructure, gold, copper, travel and ‘quality value’ stocks”.
