Ann: Becoming a substantial holder , page-4

http://www.l1capital.com.au/index.php?option=com_content&view=article&id=6&Itemid=8

Period L1 Fund S&P Difference
3 Months 16.01% 8.04% 7.97%
1 Year 14.30% 0.61% 13.69%
Since Inception (p.a.) 11.82% -4.05% 15.87%
Since Inception (cumulative) 41.50% -12.06% 53.55%

This is their performance vs the 'general' market pre fees and tax.

These guys obviously have some idea about what they are doing.

Good to see a 'well performed' fund manager come onboard, further strengthens the register