After raising $1.33 billion in a record-breaking April 2018 listed investment company float, the returns of L1 Capital's Long Short Fund remain a sore point for its largely retail investors.
The fund, run by investment chiefs Mark Landau and Raphael Lamm, has returned a decent 17.5 per cent in 2020 to date, but units in it still traded for 7.5 per cent less than the $2 initial public offer price during its annual general meeting held on Thursday.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
