TOL - 22nd Dec, 2023
3 factors (and 6 stocks) driving the outperformance of L1's newest listed fund
In this Fund in Focus, L1 Capital International's David Steinthal takes investors through the firm's newest ETMF.
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In the current slowing economic environment, quality is key. The days of companies blaming price increases on inflation are behind us, and only those with real pricing power and "strong sustainable advantages" will come out on top.
That's according to L1 Capital International's David Steinthal, who believes that today's volatility is spewing out ample opportunities for astute stock pickers.
That's where The L1 Capital International Fund (ASX: L1IF) comes in. Having listed on the ASX on 22 November 2023, L1IF now allows a broader range of investors to access a high-conviction portfolio of international stocks, while providing the liquidity for investors to buy and sell units when they please.
The fund, led by three core beliefs, has so far managed to outperform the MSCI World Index by 12% in an already strong year, delivering its investors a return of 33% (net) year to date.
In this Fund in Focus, Steinthal shares what these core beliefs are, why the firm has chosen this ETMF structure, as well as some of the stocks the L1 Capital International team has identified as compelling opportunities today.
Note: This interview was recorded on Thursday 23 November 2023. You can watch the video or read an edited transcript below.
Timecodes:
- 0:00 - Intro
- 0:38 - Why launch an exchange-traded managed fund now?
- 1:14 - Why the ETMF structure?
- 1:45 - The three core beliefs of the L1 Capital International Fund (the five factors of quality businesses, 'quality and valuation' instead of 'growth or value', and downside protection)
- 3:20 - Where the team is seeing opportunity today: The healthcare sector - UnitedHealth Group (NYSE: UNH) and HCA Healthcare Inc (NYSE: HCA)
- 3:55 - Another area of opportunity: Infrastructure spending - Eagle Materials Inc (NYSE: EXP) and CRH (NYSE: CRH)
- 4:28 - A global large-cap and small-cap opportunity: Microsoft (NASDAQ: MSFT) and Graphic Packaging (NYSE: GPK)
Introducing L1 Capital International's new ETMF (ASX: L1IF)
L1 Capital International has managed the strategy since 2019 and in November 2023 they launched it as a new exchange-traded managed fund under ticker L1IF on the ASX, helping a wider array of investors gain access to this high-conviction, quality-focused international equities fund.
For more information, please visit the L1 Capital International website.
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Ally Selby is the deputy managing editor at Livewire Markets, joining the team at the end of 2020. She loves all things investing, financial literacy and content creation, having previously worked for the likes of Financial Standard, Pedestrian Group, Your Money, Sky Business and Sky News.
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Ally Selby is the deputy managing editor at Livewire Markets, joining the team at the end of 2020. She loves all things investing, financial literacy and content creation, having previously worked for the likes of Financial Standard, Pedestrian...
Expertise
Ally Selby is the deputy managing editor at Livewire Markets, joining the team at the end of 2020. She loves all things investing, financial literacy and content creation, having previously worked for the likes of Financial Standard, Pedestrian...
Expertise
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