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L1 Global Long Short Fund Limited (ASX:GLS)

ALERT: Price-sensitive ASX Announcement for GLS
Current share price for GLS : $2.060 0.17 (8.99%)+
Announcement
Release
21 Apr 2026 10:30AM
Price at Release
$1.890
Full Release
download
Summary
The L1 Global Long Short Fund Limited (ASX:GLS) has recorded significant performance since its inception on 28 November 2025, managed by L1 Capital. The March quarter was notably affected by the Iran War, leading to market volatility and a 'risk-off' sentiment. Despite this, the fund demonstrated resilience, underscoring its strategic portfolio adjustments, particularly in sectors like copper, banking, and infrastructure. The fund capitalized on the market's fluctuations, achieving broad-based returns across various stocks and sectors, with 51 stocks each contributing more than 1% to returns. Notably, the portfolio's positioning excluded significant exposure to the software sector and major tech companies, instead favoring long positions in energy and resources while maintaining shorts in speculative AI companies. Key themes also involved strategic asset investments with high barriers to competition, offering predictable cash flows and dividends.
Key Points
  • L1 Global Long Short Fund Limited (ASX:GLS) inception on 28 November 2025.
  • March quarter impacted by Iran War, with significant market volatility.
  • Strong performance since GLSF inception on 1 January 2025.
  • Portfolio adjustments focused on copper, banking, and infrastructure.
  • Avoided major exposure to software sector and major tech companies.
  • Strategic investments in energy and resources sectors.
  • Key portfolio themes include strategic assets with high barriers to competition.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.