Regal, Magellan book performance fees

Active fund managers Regal Partners and Magellan Financial Group earned $25 million and $6 million in performance fees respectively in the last six months of 2024.

Several strategies were behind Regal's outperformance, namely the ASX-listed Regal Investment Fund, the unlisted multi-strategy Regal Partners Private Fund, the Regal Tactical Opportunities, and Attunga Power & Enviro Fund.

The PM Capital Enhanced Yield strategies and Regal Australian Small Companies Fund were also standout performers.

Regal grew its funds under management (FUM) to $18 billion at the end of December, marking a 4.6% rise on the September quarter.

Some $700 million was net inflows recorded in the last three months of 2024. Regal also scored a $200 million mandate from an international investor in this time (which is not yet included in the $18 billion FUM).

For the calendar year, Regal reported a total of $2.1 billion in net inflows and mandates.

Together with the $25 million earned, Regal's total performance fees for 2024 come to $85 million.

During the half-year, Regal acquired Merricks Capital for $235 million and gained a stake in Argyle Group.

Regal called it quits on its attempted takeover of Platinum Asset Management in early December.

Separately, Magellan Financial Group's FUM dipped to $38.6 billion from $39.1 billion in November.

Net outflows in the month of December were $400 million. This was a split of $200 million among retail and institutional investors.

The fund manager made about $6 million in performance fees in the six months to December, which outstripped the amount earned in the prior corresponding period of $100,000.

Last month, Magellan launched the Vinva Australian Alpha Extension Fund, a 130:30 long-short strategy.

This is the third Vinva fund Magellan brought to market and follows the launch of the Vinva Global Equity Fund and the Vinva Australian Equity Fund in October.