IPO investors in the L1 Long Short Fund (ASX: LSF) will be breathing a little easier today after the exchange traded unit price climbed to a 52-week high of $1.66. That’s still some way off the $2 April 2018 IPO price that saw the fundie issue 664.84 million units in its LIC after raising an impressive $1.33 billion off mainly retail investors.
The raising was so large as L1 Capital under the stewardship of Mark Landau and Raphael Lamm had such a strong track record of investment performance in the preceding couple of years.
Unfortunately all the L1 Long Short Fund’s early retail investors are still underwater, but the return to form for key holdings like Bellamy’s Australia Ltd (ASX: BAL), Qantas Airways Limited (ASX: QAN) and News Corp (ASX: NWS) has helped performance.
More generally a rotation from growth stocks into value stocks has also supported the fundies’ investment style.
Like most LICs on the local market it also trades at a considerable discount to its net tangible assets before tax of $1.84.
The post Why the L1 Long Short Fund share price just hit a 52-week high appeared first on Motley Fool Australia.
When Edward Vesely -- our resident dividend expert -- has a stock tip, it can pay to listen. With huge winners like Dicker Data (up 147%) and Collins Food (up 105%) under his belt, Edward is building an enviable following amongst investors that are planning for retirement.
In a brand new report, Edward has just revealed what he believes are the 3 best dividend stocks for income-hungry investors to buy now. All 3 stocks are paying growing fully franked dividends giving you the opportunity to combine capital appreciation with attractive dividend yields.
Best of all, Edward’s “Top 3 Dividend Shares To Buy For 2020” report is totally free to all Motley Fool readers.
- Man bets $221,666 on one ASX stock
- Top analysts name their top 3 ASX blue chip shares for 2019
- 3 quality dividend shares to boost your income
- NEW: Free report names top 3 ASX dividend shares to buy for 2019
- 5 Stocks for Potentially Building Wealth After 50
You can find Tom on Twitter @tommyr345
The Motley Fool Australia owns shares of and has recommended Dicker Data Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019