# L1 Group investment fund performance and growth

> Live situation record from CLSTR: https://clstr.news/situations/l1-group-investment-fund-performance-and-growth
> Updated: 2026-10-13T23:43:42.000Z. Sources: 5. Developments: 2.

Raphael Lamm’s L1 Gold Fund reported a 235 percent net return from its inception in February 2025 through August 2026. Despite a 20 percent decline in gold prices caused by US-Iran geopolitical tensions, the fund maintained a long-short strategy, increasing positions in mining stocks such as Eldorado Gold and K92 Mining.

By the quarter ending September 30, 2026, L1 Group Limited reported total funds under management (FUM) of $19.311 billion, a 1.3 percent increase. This growth was attributed to investment performance in the L1 Gold Fund and L1 Long Short strategies, alongside a $375 million capital raising by the L1 Gold Fund in September. Following this period, the L1 Global Long Short Fund Limited announced a further capital raising initiative of up to $483 million.

## Timeline

### 2026-10-13: L1 Group funds under management reach $19.3 billion

L1 Group's funds under management rose 1.3% to $19.311 billion for the quarter ending September 30, 2026, driven by strong performance in gold and long-short strategies.

3 sources. https://clstr.news/cluster/l1-group-funds-under-management-reach-193-billion

### 2026-09-25: Raphael Lamm’s L1 Gold Fund reports 235% return amid gold price volatility

Raphael Lamm’s L1 Gold Fund achieved a 235% net return by February 2026, betting on gold mining stocks despite recent price volatility and geopolitical tensions.

2 sources. https://clstr.news/cluster/raphael-lamms-l1-gold-fund-reports-235-return-amid-gold-price-volatility

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Cite as: L1 Group investment fund performance and growth. CLSTR, https://clstr.news/situations/l1-group-investment-fund-performance-and-growth