L1 Capital, an investment management firm, released its “L1 Capital International Fund” second quarter 2024 investor letter. A copy of the letter can be downloaded here. A copy of the letter can be downloaded here. In the June quarter, the fund returned -3.0% (net of fees) compared to 0.3% return for the Benchmark (all in Australian dollars). The Australian dollar appreciated 1.8% against the U.S. dollar in the quarter and 2.7% against the Euro, decreasing the Fund and Benchmark...
