L1 Group records 12.4% lift in funds under management in June quarter

The news: L1 Group has reported a 12.4% quarter-on-quarter increase in funds under management for the period ending 30 June, reaching a post-distribution total of $19.1 billion.

The context: The investment firm stated that the increased performance marked a sharp recovery from lows seen earlier in March, when heightened volatility stemming from the Iran conflict briefly weighed on returns.

The L1 Gold Fund initial public offering in April contributed $428 million in net inflows, while realised performance fees for the six-month period ended 30 June are expected to land between $122 million and $127 million.

For the full-year FY26, the group expects total performance fees to range from $162 million to $167 million. However, this will be partially offset by an estimated $33 million to $36 million in one-off, after-tax costs stemming from the Platinum Asset Management integration and the L1 Gold Fund IPO.