L1 Capital, an investment management firm, released its “L1 Capital International Fund” second quarter 2024 investor letter. In the June quarter, the fund returned -3.0% (net of fees) compared to 0.3% return for the Benchmark (all in Australian dollars). The Australian dollar appreciated 1.8% against the U.S. dollar in the quarter and 2.7% against the Euro, decreasing the Fund and Benchmark Australian dollar reported quarterly returns. The Fund returned 22.2% (net of fees) outperforming the Benchmark return of 19.8% (all in Australian dollars) for the year ended 30 June 2024. The...
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