L1 Gold Fund Limited
LGF.AX
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- L1 Gold Fund Limited is an Australian listed investment company that provides investors with exposure to an actively managed, absolute-return portfolio of gold-sector securities and, opportunistically, other precious-metals investments. The Company invests primarily in publicly traded gold mining companies, including producers, developers, explorers and related gold-industry businesses; employs bottom-up fundamental research, long and short equity positions, derivatives, and hedging strategies; and may maintain a physical-gold short position to mitigate exposure to a material decline in the gold price. Its investment approach targets positive absolute returns over the medium to long term through concentrated, high-conviction stock selection, contrarian research and active management of gross and net market exposure. The Company’s portfolio is focused principally on gold equities, with an emphasis on North American assets and selective opportunities globally across the gold and precious-metals value chain. L1 Gold Fund Limited commenced operations on 20 April 2026 and was listed on the Australian Securities Exchange on 24 April 2026 under the ticker LGF. It is externally managed by L1 Group Limited, formerly associated with L1 Capital, a Melbourne-headquartered independent global investment manager founded in 2007 that serves institutional investors, superannuation and pension funds, wealth managers, family offices, high-net-worth investors and retail clients. The Company raised approximately A$950 million through its April 2026 initial public offering, with the launch accompanying the closure of the unlisted L1 Wholesale Gold Fund and the transfer of the broader L1 Capital Gold Strategy into the listed-vehicle format. In August 2026, L1 Gold Fund Limited announced a further non-underwritten capital raising comprising an institutional placement of up to approximately A$160 million, a one-for-three accelerated pro-rata non-renounceable entitlement offer and a shortfall offer, all at A$2.25 per new share, to increase investment capacity and pursue opportunities in the gold and precious-metals sector.