L1 Group backs former analyst's hedge fund venture

L1 Group has launched a new hedge fund venture, PXC Advisors, with the help of a former investment analyst at the helm.

The joint venture with Andrew Lin, who is the portfolio manager and founder of PXC Advisors, will launch a flagship strategy to external investors in September.

The PXC Advisors Dynamic Return Strategy has been managed by Lin since January 2024 using capital from L1 Capital founders and employees.

It invests in up to 60 stocks across developed and emerging markets and aims to deliver at least 10% p.a. for investors.

The fund has achieved annualised returns 51% p.a. net of fees since inception, according to L1 Group.

Before founding PXC Advisors, Lin was a senior investment analyst at L1 Capital, having joined the firm in February 2018.

Prior to funds management, Lin co-founded health technology company CliniCloud, now known as Cortical Labs, and he worked as a senior associate consultant at Bain & Company for two years. Lin is a qualified medical doctor.

"PXC Advisors was established with a clear investment philosophy centred on identifying business and industry inflection points where our assessment of future earnings differs from prevailing market expectations. We believe these periods of change create compelling opportunities for active investors, particularly across technology, industrials, healthcare and other growth sectors," Lin said.

The launch marks L1 Group's first new investment partnership since the introduction of the L1 Capital Catalyst Fund in 2021 and forms part of the firm's broader growth strategy of backing specialist investment managers.

L1 Group chief executive and managing director Julian Russell said the firm remains focused on partnering with talented investment professionals and providing the support needed to build successful businesses.

"Andrew is an outstanding investor who spent eight years within L1 Capital's long-short investment team. We are delighted to announce our partnership with PXC Advisors and believe the firm's differentiated investment approach is a strong addition to L1 Group's growing alternatives platform," Russell said.

The PXC team is based at L1 Group's Melbourne headquarters and utilises L1 Group's trading, compliance, operations and distribution capabilities.