2024 Financial Results

Regal Partners Limited, a specialist alternative investment manager, is pleased to report its financial results for the year ended 31 December 2024.

HIGHLIGHTS

• Funds under management (“FUM”)¹ of $18.0bn at 31 December 2024, up 64% since 31 December 2023
• FUM up 25% for the year excluding $4.3bn of acquired FUM in relation to the Merricks Capital and Argyle Group transactions in July 2024
• Net client inflows of $1.9bn for the year to 31 December 2024, up 310% on pcp²
• Statutory 2024 Net Profit after Tax (“NPAT”)³ of $66.2m. Normalised NPAT⁴ of $97.5m, up 198% on pcp
• Performance fees $84.5m driven by strong performance across a diversified range of strategies
• Fully franked 2H24 dividend of 10c per share, up 100% on pcp, reflecting strong organic cash generation, substantial surplus capital and excess franking credits
• Strong balance sheet, with approximately $200m of net cash, cash receivables and investments, pro forma at 31 December 2024 (after deducting the upcoming payment of the 2H24 dividend), debt-free at 31 December 2024

Read the announcement here

1 1 Management estimate of FUM for 31 December 2024 (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 Previous corresponding period (pcp) relates to the year to 31 December 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.