Key Takeaways
- • L1 Long Short Fund Limited (ASX:LSF) reported FY26 income from ordinary activities of AUD 1,293.962mn, up from AUD 317.475mn in FY25, per its 26 August 2026 annual-reporting release.
- • The investment manager reported a net portfolio return of 45.4% for the year ended 30 June 2026.
- • Profit attributable to ordinary shareholders after tax rose to AUD 634.587mn from AUD 99.518mn in FY25.
- • Pre-tax NTA per share increased to AUD 4.3222 from AUD 3.2473; after-tax NTA was AUD 3.9522 per share.
- • The board declared a 3.8 cent fully franked final dividend, bringing total FY26 fully franked dividends to 14.6 cents per share, and moved from semi-annual to quarterly payments during FY26.
Summary
L1 Long Short Fund Limited (ASX:LSF), a listed investment company run on a long-short equity strategy, released its annual report on 26 August 2026 covering the financial year ended 30 June 2026. The company reported FY26 income from ordinary activities of AUD 1,293.962mn, compared with AUD 317.475mn in FY25. Profit attributable to ordinary shareholders after tax increased to AUD 634.587mn from AUD 99.518mn.
The investment manager reported a net portfolio return of 45.4% for the year ended 30 June 2026. Pre-tax net tangible asset (NTA) backing per share rose to AUD 4.3222 from AUD 3.2473 a year earlier, while after-tax NTA stood at AUD 3.9522 per share.
The report attributed stock-selection contributions to resources, construction materials, infrastructure and travel investments. The investment manager also reported adjustments to energy and infrastructure positions and said it maintained a focus on quality-value companies.
On distributions, the company reported total FY26 fully franked dividends of 14.6 cents per share, including a final dividend of 3.8 cents per share, fully franked. The board also increased its ordinary dividend frequency from semi-annual to quarterly during FY26.
The source notes that portfolio return, accounting profit, NTA and share-price performance are distinct measures. The FY26 profit movement includes investment outcomes that may not recur at the same level, and future disclosures are expected to show portfolio attribution, equity-market exposure, trading gains, tax liabilities and dividend decisions.
The investment manager reported a net portfolio return of 45.4% for the year ended 30 June 2026. Pre-tax net tangible asset (NTA) backing per share rose to AUD 4.3222 from AUD 3.2473 a year earlier, while after-tax NTA stood at AUD 3.9522 per share.
The report attributed stock-selection contributions to resources, construction materials, infrastructure and travel investments. The investment manager also reported adjustments to energy and infrastructure positions and said it maintained a focus on quality-value companies.
On distributions, the company reported total FY26 fully franked dividends of 14.6 cents per share, including a final dividend of 3.8 cents per share, fully franked. The board also increased its ordinary dividend frequency from semi-annual to quarterly during FY26.
The source notes that portfolio return, accounting profit, NTA and share-price performance are distinct measures. The FY26 profit movement includes investment outcomes that may not recur at the same level, and future disclosures are expected to show portfolio attribution, equity-market exposure, trading gains, tax liabilities and dividend decisions.
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