L1 Capital says it plans to convert a listed investment company run by Platinum Asset Management into a global long-short vehicle after blocking a board proposal to change the structure to an exchange-traded fund.
But the Melbourne-headquartered hedge fund’s move has drawn the ire of activist investors, who favoured the shift to an ETF that would have given them a better chance of realising a profit on their holdings.
Source: https://www.afr.com/markets/equity-markets/l1-s-plan-for-platinum-fund-draws-investor-backlash-20250805-p5mkg6