1H24 Financial Results

Regal Partners Limited, a specialist alternative investment manager, is pleased to report its financial results for the six months ended 30 June 2024.

HIGHLIGHTS

• Pro forma funds under management (“FUM”)¹ of $16.5bn at 30 June 2024, up 50% since 31 December 2023
• Net client inflows of $745m for the six months to 30 June 2024, up 106% on pcp²
• Statutory 1H24 Net Profit after Tax (“NPAT”)³ of $50.2m. Normalised NPAT⁴ of $59.0m, up 349% on pcp
• Performance fees $59.6m driven by strong performance across a diversified range of strategies
• Fully franked dividend of 8c per share announced, up 60% on pcp, reflecting strong organic cash generation, substantial surplus capital and excess franking credits
• Strong balance sheet, with $197m of net cash, cash receivables and investments, pro forma at 30 June 2024 (after deducting cash consideration paid in July relating to the acquisition of Merricks Capital and a 40% stake in Argyle Group and the upcoming payment of the 1H24 dividend)

Read the announcement here

1 1 Management estimate of FUM for 30 June 2024 and which is pro forma for the acquisition in July 2024 of Merricks Capital and 40% of Argyle Group (shown on a 100% FUM ownership basis). FUM (including 100% of Taurus Funds Management, Attunga Capital, Kilter Rural and Argyle Group) is rounded, unaudited, and includes non-fee-earning FUM.

2 Prior corresponding period (pcp) relates to the six months to June 2023.

3 All NPATs refer to NPAT attributable to RPL shareholders.

4 Normalised NPAT has been calculated by adding back certain non-cash items (e.g. amortisation of intangible assets, long-term variable remuneration) and one-off transaction and integration costs (all tax-effected where appropriate). Normalised NPAT includes fair value movements on seed investments.