L1 Global Long Short Fund (GLS) H2 2026 earnings summary
Event summary combining transcript, slides, and related documents.
H2 2026 earnings summary
26 Aug, 2026Executive summary
Portfolio delivered a net return of 17.8% from 28 November 2025 to 31 July 2026, outperforming the MSCI World Index's 11.1% over the same period.
Since strategy inception (1 January 2025 to 31 July 2026), annualised net return was 58.1% p.a., compared to 20.1% p.a. for the MSCI World Index.
Financial highlights
Fully franked interim dividend of 1 cent per share paid in March 2026; final dividend of 2 cents per share payable on 23 September 2026.
Total dividends determined since the change of Investment Manager and strategy amount to 3.0 cents per share.
Outlook and guidance
Board intends to pay fully franked dividends of at least 8.0 cents per share for FY27, with quarterly dividends of 2.0 cents per share, subject to Board approval and financial position.
Latest events from L1 Global Long Short Fund
- 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.GLSH2 2025
- Profit after tax jumped to $57.5m, driven by a new strategy and major equity raise.GLSH1 2026
- Transition to a global long/short strategy with a $415M offer and 67.5% YTD net return.GLSInvestor Presentation
- Shareholders approved a new manager, board changes, and a shift to a global long-short strategy.GLSAGM 2025
- Three L1 Capital nominees were appointed as directors, while WAM nominees were not.GLSEGM 2025
- Shareholders approved a 50% buyback (20% cap pre-EGM) with strong support and governance concerns.GLSScheme Meeting 2025
- FY2024 saw steady profits, a new ETF scheme, and a focus on closing the share price discount.GLSAGM 2024
- FY24 saw a 3.7% pre-tax NTA return, $12.8m net profit, and a proposed merger to close the share price gap.GLSH2 2024