-- L1 Group (ASX:L1G) said funds under management (FUM) stood at AU$16.96 billion as of the quarter ended March 31, down from AU$17.64 billion as of the three months to Dec. 31, 2025, impacted by the Middle East conflict, according to a Tuesday Australian bourse filing.
The company said that while FUM fell 3.8% during the quarter, performance has since rebounded, with FUM recovering to about AU$17.9 billion as of April 10.
Net client flows to L1 Long Short and L1 Affiliates were positive in the quarter, while net outflows in Platinum strategies, including Platinum International, slowed materially to AU$308 million in the March quarter from AU$854 million in the December 2025 quarter, the filing added.
The L1 Gold Fund (ASX:LGF) is expected to commence trading on April 24, with L1 Group expecting to earn a performance fee upon closure of the existing L1 Wholesale Gold Fund, and the quantum to be determined by the fund's performance up to and including April 17, the filing added.