In an ASX listing on Monday, the fund manager said its normalised net profit after tax (NPAT) came in at $95.75 million in the year to 31 December, up 198 per cent from the prior corresponding period.
The result was driven by increased revenues, with revenues climbing 151 per cent to $281 million, as well as the inclusion of the results of PM Capital, Taurus, Merricks Capital and Argyle – all of which have come under Regal’s banner.
Moreover, funds under management (FUM) rose 64 per cent in 2024 to $18 billion, driven by a combination of organic and inorganic growth. Excluding the $4.3 billion in FUM on the back of the acquisition of Merricks Capital and Argyle, FUM was up by more than 25 per cent.
The alternative investment manager said net inflows for the year stood at $1.9 billion, a notable 310 per cent increase on 2023.
This, Regal’s chief executive and managing director Brendan O’Connor said, represents a record year of fundraising for the business.
“We have been delighted with the continued business growth and strong investment performance delivered across Regal Partners over the course of 2024,” O’Connor said.
“Our increasingly diversified, specialist alternative investment offering has continued to earn strong client support, with the business attracting positive net inflows of $1.9 billion over the period.”
According to the CEO, attractive risk-adjusted investment returns across a variety of asset classes and investment strategies continue to provide opportunities to further diversify its existing capital base.
“We were thrilled this year to also welcome additional capabilities to the Regal Partners group, with the acquisition of hard asset lending specialist Merricks Capital, completed in early July 2024, and a minority interest in water entitlements manager Argyle Group, completed a few weeks later.”
Moreover, Regal announced a fully franked dividend for 2H24 of 10 cents per share, up 100 per cent on the prior corresponding period.
This, the firm said, reflected strong organic cash generation, surplus capital and excess franking credits.
“Pleasingly, we finish the year in an incredibly strong position,” O’Connor added.
“We continue to see excellent opportunities to deploy capital across our increasingly diversified investment capabilities, with the business remaining well positioned to continue in its ambition to be the leading provider of alternative investment solutions across Australia and Asia.”
