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L1 Group backs PXC Advisors long-short fund launch in September
PXC Advisors will offer its Dynamic Return Strategy to outside investors after running it with L1 Capital since January 2024, and L1 Group cited annualised net returns of 51% since inception.
Australian investment firm L1 Group is backing former L1 Capital analyst Andrew Lin as he prepares to take his long-short hedge fund strategy to external investors, according to Hedgeweek. The new venture, PXC Advisors, is set to launch its flagship Dynamic Return Strategy to outside investors in September. Lin has managed the strategy since January 2024 using capital from L1 Capital’s founders and employees, with the approach investing in as many as 60 stocks across developed and emerging markets. L1 Group said the strategy targets annual returns of at least 10% and has generated annualised net returns of 51% since inception. The manager’s process focuses on finding inflection points in companies and industries where Lin believes future earnings prospects differ materially from prevailing market expectations, with a focus on sectors including technology, industrials, and healthcare.
L1 Group’s partnership also marks the firm’s first new investment venture since it launched the L1 Capital Catalyst Fund in 2021. Hedgeweek reports L1 Group said the effort is part of a broader push to identify and support specialist investment managers.