Regal Partners' FUM drops by $0.6bn

Regal Partners' funds under management (FUM) and commitments dipped from $22 billion to $21.4 billion in the quarter to March 2026.

Investment performance dipped by $792 million, offset by net inflows of $450 million.

Detractions in performance reflected challenging market conditions during the quarter as the conflict between US and Iran escalated, Regal Partners said.

The conflict drove up prices of oil and interest rates, it said, alongside weaker global equity markets.

Performance in hedge funds dropped by $800 million whereas equity strategies saw a dip of $16 million. Its multi-strategy fund, which includes its private credit investments, dropped by $54 million.

Regal Partners saw positive returns from real and natural assets as well as from credit and royalties. Returns from real assets rose by $11 million and credit increased by $67 million.

Inflows for the quarter mostly came into the hedge fund strategy at $296 million. Its multi-strategy saw an inflow of $56 million and credit of $116 million.

Its hedge fund strategy saw continued support from PM Capital's Global Companies Fund and inflows into the Regal Resources Long/Short strategies, including the establishment of a new managed account for a large offshore sovereign wealth fund.

Last week, it appointed Peter Yates as the chair-elect and independent non-executive director of the board.

In the year to 31 December 2025, it delivered a full-year normalised net profit after tax (NPAT) of $160.5 million, up 65% from the year prior.

FUM excluding commitments for the quarter dropped to $20.2 billion. Regal Partners said this has rebounded, rising back to $21 billion as at April 17.