Key points
- FY26 net return of 45.4%
- Increased dividend frequency to quarterly
- Fully franked dividends totaling 14.6 cents per share
- Strong stock selection in Resources, Construction Materials, Infrastructure, and Travel
Full summary
L1 Long Short Fund Limited released its FY26 Annual Report, highlighting a 45.4% net return for the financial year. The company increased its dividend frequency from semi-annual to quarterly, paying a total of 14.6 cents per share. The Board attributed the strong performance to disciplined bottom-up stock selection, rigorous fundamental research, and portfolio management. Key contributors to the portfolio's performance included companies like Hudbay Minerals, James Hardie, CRH, BlueScope, and Qantas. The report also detailed the company's solid dividend stream and strong net tangible asset growth.
Guidance
FY26 net return of 45.4%, dividends totaling 14.6 cents per share
Outlook
The Investment Manager expects the portfolio's focus on quality value stocks to continue, with a particular emphasis on gold, copper, construction materials, infrastructure, and select financials.