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L1 Global Long Short Fund (GLS) investor relations material
L1 Global Long Short Fund AGM 2026 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Opening remarks and agenda
AGM opened with a quorum; business covered FY26 reports, the Remuneration Report, director elections, auditor appointment and proposed constitution replacement.
Resolutions were decided by poll, with online voting open until five minutes after the meeting closed.
Financial performance review
From L1 Capital’s appointment on 28 Nov 2025 to 30 Jun 2026, portfolio net return was 11.9% versus 10.6% for the MSCI World Accumulation Index in US dollars, outperforming by 1.3 percentage points.
From 30 Jun to 31 Oct 2026, portfolio return was 6.9% net versus 1.1% for the benchmark.
Capital raisings raised AUD 477.1m in Dec 2025 and AUD 565.4m in Oct 2026; market capitalization exceeded AUD 1bn by calendar year-end and reached AUD 1.7bn at 31 Oct 2026.
Returns benefited from takeovers, restructurings, earnings upgrades and capital returns, with contributions from resources, travel, industrials and financials.
Board and executive committee updates
Joanne Jefferies left the board on 1 Oct 2026 for a new executive role; Julian Russell joined that day, bringing 25 years of financial-services experience.
Olivia Byron joined as Company Secretary, bringing more than 16 years of legal governance and company-secretarial experience.
Rachel Grimes AM stood for re-election and Julian Russell stood for election as Non-Executive Directors; Grimes cited financial, executive and board experience, while Russell highlighted FleetPartners’ restructuring and turnaround.
- A$482.7m raise at A$1.76 to expand a strong-performing global long-short strategy.GLS
Investor presentation - Net return of 17.8% and strong dividend outlook highlight robust performance.GLS
H2 2026 - Outperformed benchmarks with 53.9% net return p.a., focusing on resilient, high-growth sectors.GLS
Investor presentation - Profit declined and returns lagged the benchmark, with major strategic and Board changes underway.GLS
H2 2025 - Profit after tax jumped to $57.5m, driven by a new strategy and major equity raise.GLS
H1 2026 - Transition to a global long/short strategy with a $415M offer and 67.5% YTD net return.GLS
Investor Presentation - Three L1 Capital nominees were appointed as directors, while WAM nominees were not.GLS
EGM 2025 - FY2024 saw steady profits, a new ETF scheme, and a focus on closing the share price discount.GLS
AGM 2024 - FY24 saw a 3.7% pre-tax NTA return, $12.8m net profit, and a proposed merger to close the share price gap.GLS
H2 2024
Next L1 Global Long Short Fund earnings date
Next L1 Global Long Short Fund earnings date
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