L1 Capital Australian Equities Fund

The L1 Capital (L1) Australian Equities strategy is a concentrated Australian equities portfolio that seeks to outperform the S&P/ASX 200 Accumulation index over the medium term.

The portfolio is constructed using L1's best ideas as derived from its investment process. L1 have a fundamental belief that portfolio diversification is reasonable to a point, but incrementally adding to one’s best ideas rather than adding a new position is a more efficient method of adding value for clients. The result of this approach is a concentrated portfolio of between 25 and 35 stocks.

Strategy
Concentrated Australian Equities Fund
Objective
To outperform the benchmark over rolling 3 year periods
Asset Class
Australian Equities
Benchmark
S&P ASX 200 Accumulation Index
Number of Securities
Typically 25 to 35
Minimum Investment
AUD$25,000
Subscription Frequency
Daily
Redemption Frequency
Daily

L1CAEF September 2017 Data

Net Performance as at 30 September 2017. Inception Date 22 August 2007.
Note: Past performance is not a reliable indicator of future performance.

Fund Characteristics
Typical Exposure
Stock Numbers
25 to 35 Stocks
Large Cap
75% to 90%
Small Cap
10% to 25%
Cash
0% to 5%
Shorting
No
Gearing
No
Options
No
Foreign Exchange
No
International
No

Please Note:  Portfolio restrictions are broader than the investment guidelines outlined above, The above table only provides a reasonable snapshot of the typical characteristics of the portfolio at any given point in time.  L1 Capital reserves the right to maintain a portfolio outside of these specific guidelines consistent with the restrictions outlined in the Information Memorandum.