L1 Long Short Fund Says Portfolio Fell 0.9% in February, Up 60% Over Past Year
MT Newswires Live
Mar 10
L1 Long Short Fund (ASX:LSF) L1 Long Short Fund said its portfolio returned negative 0.9% in February, while over the past year the portfolio has returned 60%, according to a Tuesday Australian bourse filing.
The fund said it believes the Australian equity market remains relatively fully valued, with several large-cap companies, particularly within the ASX20, trading at multiples well above historical levels and global peers.
The fund added that it continues to identify a range of undervalued companies offering a combination of strong earnings growth, shareholder-aligned management, conservative balance sheets, and valuation support, the filing added.
The company's shares were up 2% in recent Tuesday trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.