L1 Long Short Fund Ltd. (AU:LSF) has released an update.
L1 Long Short Fund Ltd reported a robust 7.4% return for the March quarter, outperforming the ASX200AI’s 5.3% gain, amidst a broader market rally largely driven by multiple expansions rather than earnings growth. U.S. economic data outpaced expectations, contributing to positive market sentiment and a shift in monetary policy expectations, with fewer interest rate cuts now anticipated. Despite strong performance, the report indicates caution due to fully priced equity markets, geopolitical risks, and potential inflation surprises.
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