L1 Long Short Fund Limited (ASX: LSF)

Performance Summary as at March 2024

The L1 Long Short Fund Limited (ASX: LSF) has a track record of 6 years and has outperformed the ASX 200 Total Return benchmark since inception in April 2018, providing investors with an annualised return of 11.92% compared with the benchmark's return of 9.63% over the same period.

On a calendar year basis, the fund hasn't experienced any negative annual returns in the 6 years since its inception. Over the past 12 months, the fund's largest drawdown was -6.94% vs the index's -7.19%, and since inception in April 2018 the fund's largest drawdown was -39.02% vs the index's maximum drawdown over the same period of -26.75%. The fund's maximum drawdown began in May 2018 and lasted 2 years and 6 months, reaching its lowest point during March 2020. The fund had completely recovered its losses by November 2020.

The Manager has delivered these returns with 8.54% more volatility than the benchmark, contributing to a Sharpe ratio which has fallen below 1 four times over the past five years and which currently sits at 0.52 since inception. The fund has provided positive monthly returns 70% of the time in rising markets and 48% of the time during periods of market decline, contributing to an up-capture ratio since inception of 82% and a down-capture ratio of 79%.