L1 Capital Gold Fund - Managed Fund

Fund Objective

The Investment Manager sees significant share price upside potential in the mid-cap listed gold equities sector globally due to depressed valuations, favourable sector dynamics, and timing lags between physical gold and gold equities share price changes. It believes that the macroeconomic backdrop, featuring geopolitical tensions, lower real interest rates and structural demand growth from central banks and consumers, provides tailwinds for the gold market.

Fund Strategy

Fund Performance Comparison

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Peers

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The performance of the peers is calculated as the total of the performance for each time period for all the funds in the peer group, divided by the number of funds in the peer group.

Fees Comparison

% p.a.

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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.

Fund performance

	1M	3M	6M	1Y p.a.	2Y p.a.	3Y p.a.	5Y p.a.	10Y p.a.
Total return	9.03%	51.42%	106.43%	-%	-%	-%	-%	-%
Growth return	9.06%	51.46%	106.48%	-%	-%	-%	-%	-%
Income return	-0.03%	-0.04%	-0.05%	-%	-%	-%	-%	-%
Market index (Morningstar Long-Only Commodity TR AUD)
Total return	7.31%	15.54%	26.62%	41.74%	1.8%	2.09%	3.54%	-1.44%

As at 31 Jan 2026. Returns for periods greater than 1 year are annualised. All figures are percentages.

Asset Allocation

No asset allocation data available.

Average Allocation of Peers

Alternatives: 80.29%

International Equities: 18.18%

Cash: 1.52%

General Information

Fund Details

Type	Description
Fund Name	L1 Capital Gold Fund
APIR Code	ETL2916AU
Sector/Asset Class	Commodities & Precious Metals
Morningstar Rating	Not Rated
Legal Structure	Investment Fund
Fund Inception	28 Feb 2025
Fund Size	n/a
Entry Price	$2.8271 (as at 31 Jan 2026)
Exit Price	$2.8271 (as at 31 Jan 2026)
Fund Status	Open

Offer information

Type	Description
MER	0.25% (as at 18 Feb 2025)
Minimum initial investment	$100,000

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FAQs about the L1 Capital Gold Fund

What is the objective of the L1 Capital Gold Fund managed fund?

The objective of the L1 Capital Gold Fund managed fund is The Investment Manager sees significant share price upside potential in the mid-cap listed gold equities sector globally due to depressed valuations, favourable sector dynamics, and timing lags between physical gold and gold equities share price changes. It believes that the macroeconomic backdrop, featuring geopolitical tensions, lower real interest rates and structural demand growth from central banks and consumers, provides tailwinds for the gold market.

What is the strategy for the L1 Capital Gold Fund managed fund?

The strategy of the L1 Capital Gold Fund managed fund is The Investment Manager sees significant share price upside potential in the mid-cap listed gold equities sector globally due to depressed valuations, favourable sector dynamics, and timing lags between physical gold and gold equities share price changes. It believes that the macroeconomic backdrop, featuring geopolitical tensions, lower real interest rates and structural demand growth from central banks and consumers, provides tailwinds for the gold market.

What is the APIR code of the L1 Capital Gold Fund managed fund?

The APIR code of the L1 Capital Gold Fund managed fund is ETL2916AU.

What was L1 Capital Gold Fund’s total return last month?

L1 Capital Gold Fund’s total return last month was 9.03%. This was made up of a growth return of 9.06% and an income return of -0.03%. These returns were calculated as at 31 Jan 2026.

What was L1 Capital Gold Fund’s total return for the last three months?

L1 Capital Gold Fund’s total return for the last three months was 51.42%. This was made up of a growth return of 51.46% and an income return of -0.04%%. These returns were calculated as at 31 Jan 2026.

What is L1 Capital Gold Fund’s one-year total return?

L1 Capital Gold Fund’s one-year total return is -%. This was made up of a growth return of -% and an income return of -%. These returns were calculated as at 31 Jan 2026.

What is L1 Capital Gold Fund’s three-year total return?

L1 Capital Gold Fund’s one-year total return is -%. This was made up of a growth return of -% and an income return of -%. These returns were calculated as at 31 Jan 2026.

What is the asset allocation of the L1 Capital Gold Fund managed fund?

The asset allocation of the L1 Capital Gold Fund managed fund is :

Alternatives: 100%

International Equities: 0%

Cash: 0%

What sector/asset class does the L1 Capital Gold Fund managed fund belong to?

The L1 Capital Gold Fund managed fund belongs to the Commodities & Precious Metals sector/asset class.

What is the size of the L1 Capital Gold Fund managed fund?

As at , the size of the L1 Capital Gold Fund managed fund was $ million.

What is the inception date of the L1 Capital Gold Fund managed fund?

The L1 Capital Gold Fund managed fund has an inception date of 28 Feb 2025.

What is the current entry price of the L1 Capital Gold Fund managed fund?

The current entry price of the L1 Capital Gold Fund managed fund is $2.8271 per unit and the current exit price is $2.8271 per unit (as at 31 Jan 2026).

What is the current exit price of the L1 Capital Gold Fund managed fund?

The current exit price of the L1 Capital Gold Fund managed fund is $2.8271 per unit and the current entry price is $2.8271 per unit (as at 31 Jan 2026).

What is the minimum investment amount for the L1 Capital Gold Fund managed fund?

The minimum initial investment amount for the L1 Capital Gold Fund managed fund is $100,000.

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.

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