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)
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.
This information is prepared by Regal Partners Marketing Services Pty Ltd (ACN 637 448 072), a corporate authorised representative of Regal Partners (RE) Limited (ACN 083 644 731, AFSL 230222). All investments contain risks. Past performance is not a reliable indicator of future performance. You should read the Information Memorandum (including the key risks) applicable for the relevant Fund, and consider obtaining professional investment advice tailored to your specific circumstances, before making any investment decision. Any investment in a Fund will be solely on the basis of its Information Memorandum (as updated and amended from time to time).
