L1 Long Short Fund Ltd. (AU:LSF) has released an update.
L1 Long Short Fund Ltd. reported a modest 1.5% return in July, trailing the ASX200AI’s 4.2% rise, but has outperformed over a 3-year period with an 11.8% annual return versus the ASX200AI’s 7.4%. Amid global market gains driven by expectations of interest rate cuts, the fund’s recent performance benefited from positive updates in select stocks, such as NatWest Group; however, it faced challenges in the Commodity and Energy sectors and with a short position in Commonwealth Bank. The fund continues to seek value in low P/E, cash-generative companies, and is cautious on domestic banks, citing high valuations and economic risks.
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