Understanding the True Value of the L1 Long Short Fund

L1 Capital updates the Net Tangible Asset (NTA) backing for its Long Short Fund as of March 30, 2026, providing a crucial benchmark for assessing intrinsic value versus market price.

For shareholders of the L1 Long Short Fund, a key metric has been updated, providing fresh insight into the fund's underlying worth. The latest Net Tangible Asset (NTA) backing figure, calculated as of March 30, 2026, offers a crucial benchmark for assessing the portfolio's intrinsic value, independent of its current market price.

A Core Metric for Listed Investment Companies

In the realm of publicly traded investment vehicles, the NTA backing per share stands as a fundamental gauge. This figure represents the net value of all assets after liabilities are subtracted, expressed on a per-share basis. The relationship between this calculated intrinsic value and the fund's prevailing share price gives investors a clear signal: it shows whether the market is pricing in confidence in the management's strategy or discounting for perceived risks within the portfolio.

The Strategy Behind the Numbers

Managed by L1 Capital, the fund employs a fundamental, bottom-up investment approach to uncover opportunities primarily within Australia and New Zealand. Up to 30 percent of the portfolio may also be allocated to global securities. Its long-short strategy, which involves taking both positive and negative positions in equities, is designed to preserve capital during market volatility and to deliver absolute returns.

The regular publication of the NTA is a cornerstone of the fund's commitment to transparency. Shareholders rely on these updates to monitor the value generated by active management in a timely manner and to critically evaluate the fund's market valuation.

This focus on the NTA is particularly relevant given the fund's complex strategy. By providing this data, the management offers investors essential reference points to understand the substance behind the share price movements.