Regal Partners (RPL) H1 2026 earnings summary

Executive summary

• Funds under management (FUM) reached $21.4bn as of June 2026, up 21% year-over-year, driven by record net inflows of $1.4bn and strong offshore institutional contributions.

• Normalised NPAT for H1 2026 was $93.3m, up 108% year-over-year, with statutory NPAT at $94.1m, up 258%.

• Management and loan fee revenue rose 14% to $113.9m, and performance fees totaled $118.7m, reflecting robust investment outcomes.

• Fully franked interim dividend of 12c per share declared, up 100% year-over-year.

• Strategic focus on diversification, scalable platform, and disciplined capital management, with new product launches including the Multi-Strategy Income Fund.

Financial highlights

• Average FUM for 1H26 was $21.1bn, up 21% year-over-year.

• Pre-tax profit margin expanded to 56% from 50% in 1H25.

• Basic EPS rose 91% to 25.0c; fully diluted EPS up 104% to 21.4c.

• Net tangible assets per share increased to $0.95 from $0.89 at 31 December 2025.

• Balance sheet capital stood at $289m at June 30, 2026, with $130m undrawn debt facility and no drawn debt.

Outlook and guidance

• Fundraising momentum remains strong, with $0.3bn net inflows in July 2026 and additional capital raises in August.

• On track to achieve $2bn net flow target for calendar 2026.

• Multi-Strategy Income Fund to launch in September 2026, targeting RBA cash rate plus 350bps (approx. 8% yield).

• Focus on integration, operational efficiency, and disciplined capital management to support growth and dividends.