InvestSMART

GAM LSA Private Shares I - Managed Fund

Fund Objective
The Fund intends to pursue its investment objective by investing substantially all of its assets into the GAM LSA Private Shares (Cayman) Master Fund (the “Master Fund”). The Master Fund’s investment objective is also to achieve attractive investment gains over the medium to long-term, primarily through capital appreciation in its investments. The Master Fund’s target investment return is also between 15 - 20% per annum (net any fees, expenses or taxes).
Fund Strategy
The Fund intends to pursue its investment objective by investing substantially all of its assets into the GAM LSA Private Shares (Cayman) Master Fund (the “Master Fund”). The Master Fund’s investment objective is also to achieve attractive investment gains over the medium to long-term, primarily through capital appreciation in its investments. The Master Fund’s target investment return is also between 15 - 20% per annum (net any fees, expenses or taxes).

Fund Performance Comparison

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Fees Comparison

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NOTE: Fee data has been provided by Morningstar, it may not include all costs being charged on your investment such as platform and adviser fees. You should check your fund manager or adviser statements to find out the exact fees you are being charged. Peers are funds that use the same benchmark in the Morningstar database.
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Fund performance

  1M 3M 6M 1Y p.a. 2Y p.a. 3Y p.a. 5Y p.a. 10Y p.a.
Total return -3.64% 7.09% 17.72% 20.44% 24.01% 27.8% -% -%
Growth return -0.38% 3.68% 19.52% 20.62% 21.55% 24.33% -% -%
Income return -3.26% 3.41% -1.8% -0.18% 2.46% 3.47% -% -%
Market index (MSCI World NR AUD)
Total return -0.86% 2.48% 8.71% 12.43% 21.26% 21.85% 15.47% 13.15%
As at 31 Jan 2026. Returns for periods greater than 1 year are annualised. All figures are percentages.

Asset Allocation

GAM LSA Private Shares I
Australian Equities
31.48%
International Equities
31.48%
Cash
27.58%
Alternatives
9.47%
Property & Infrastructure
0%
Fixed Interest
0%
Average Allocation of Peers
Australian Equities
29.62%
International Equities
14.69%
Cash
9.95%
Alternatives
41.57%
Property & Infrastructure
0.66%
Fixed Interest
3.51%

General Information

Fund Details
Type Description
GAM LSA Private Shares I
GAM International Management Limited
ETL5089AU
Alternative - Private Equity
Not Rated
Investment Fund
21 Mar 2022
$259.59 million (as at 26 Feb 2026)
$2.9136 (as at 26 Feb 2026)
$2.9136 (as at 26 Feb 2026)
Open
Offer information
Type Description
MER 2.33% (as at 17 Jul 2025)
Indirect Cost Ratio (ICR) 2.33% (as at 30 Jun 2024)
Minimum initial investment $20,000
Minimum additional investments $5,000.00

Top 10 holdings (as at 31 Jan 2026)

Holding (as at 31 Jan 2026) Type % of Portfolio
GAM LSA Private Shares (Lux) G1 AUD Acc 97.29%
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FAQs about the GAM LSA Private Shares I

The objective of the GAM LSA Private Shares I managed fund is The Fund intends to pursue its investment objective by investing substantially all of its assets into the GAM LSA Private Shares (Cayman) Master Fund (the “Master Fund”). The Master Fund’s investment objective is also to achieve attractive investment gains over the medium to long-term, primarily through capital appreciation in its investments. The Master Fund’s target investment return is also between 15 - 20% per annum (net any fees, expenses or taxes).

The strategy of the GAM LSA Private Shares I managed fund is The Fund intends to pursue its investment objective by investing substantially all of its assets into the GAM LSA Private Shares (Cayman) Master Fund (the “Master Fund”). The Master Fund’s investment objective is also to achieve attractive investment gains over the medium to long-term, primarily through capital appreciation in its investments. The Master Fund’s target investment return is also between 15 - 20% per annum (net any fees, expenses or taxes).

The APIR code of the GAM LSA Private Shares I managed fund is ETL5089AU.

GAM LSA Private Shares I’s total return last month was -3.64%. This was made up of a growth return of -0.38% and an income return of -3.26%. These returns were calculated as at 31 Jan 2026.

GAM LSA Private Shares I’s total return for the last three months was 7.09%. This was made up of a growth return of 3.68% and an income return of 3.41%%. These returns were calculated as at 31 Jan 2026.

GAM LSA Private Shares I’s one-year total return is 20.44%. This was made up of a growth return of 20.62% and an income return of -0.18%. These returns were calculated as at 31 Jan 2026.

GAM LSA Private Shares I’s one-year total return is 27.8%. This was made up of a growth return of 24.33% and an income return of 3.47%. These returns were calculated as at 31 Jan 2026.

The asset allocation of the GAM LSA Private Shares I managed fund is :

Australian Equities
31.48%
International Equities
31.48%
Cash
27.58%
Alternatives
9.47%
Property & Infrastructure
0%
Fixed Interest
0%

The Responsible Entity for the GAM LSA Private Shares I managed fund is GAM International Management Limited.

The GAM LSA Private Shares I managed fund belongs to the Alternative - Private Equity sector/asset class.

As at 26 Feb 2026, the size of the GAM LSA Private Shares I managed fund was $259.59 million.

The GAM LSA Private Shares I managed fund has an inception date of 21 Mar 2022.

The current entry price of the GAM LSA Private Shares I managed fund is $2.9136 per unit and the current exit price is $2.9136 per unit (as at 26 Feb 2026).

The current exit price of the GAM LSA Private Shares I managed fund is $2.9136 per unit and the current entry price is $2.9136 per unit (as at 26 Feb 2026).

The minimum initial investment amount for the GAM LSA Private Shares I managed fund is $20,000. Minimum additional investment is $5000.

Fund data sourced from Morningstar. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). Data and content is provided for personal use only. Whilst every care has been taken in producing these numbers, neither Morningstar nor InvestSMART can make any guarantees around the complete accuracy of these figures. Should you decide to change investments, please read all relevant disclosure documents including the Product Disclosure Statements and if required, you may consider speaking to a financial professional for further guidance. A tax event may be realised as a result of switching investments. Past performance is not a reliable indicator of future performance.