Adding an element to list inside a function

Lisp beginner.

I am trying to add an element to a list inside a function.

(defun add-element (e lst)
  (setf lst (cons e lst)))

I cannot use the return of the function to change the original list but my list never gets updated.

CL-USER\> \*assertions\*

((A B) (C D) (E F))

CL-USER\> (add-element '(g h) \*assertions\*)

((G H) (A B) (C D) (E F))

CL-USER\> \*assertions\*

((A B) (C D) (E F))

Is there a way to do this?