Key Highlights

  • Regal Partners expects to recognise at least A$122.7 million of fund performance fee Revenue for calendar 2026.
  • Other income has been pressured by the decline in the share price of Regal Asian Investments (ASX:RG8).
  • The company does not currently expect incremental performance fees for the second half of 2026 to be material.
  • Net inflows totalled A$2.2 billion for the ten months to 31 October 2026, according to the update.

Regal Partners Limited (ASX:RPL) has provided an update on its Investment performance in the second half of calendar 2026 and on its expected fund performance fee revenue and other income, according to an announcement dated 12 November 2026. The alternative investment manager reported funds under management of about A$22 billion as at 30 September 2026. The company now expects to recognise at least A$122.7 million of fund performance fee revenue for the full calendar year, while also flagging pressure on other income from one of its listed holdings.

What the performance fee figure includes

Fund performance fee revenue of A$118.7 million for the first half of 2026 has crystallised and been received in cash. A further A$4.0 million was crystallised and received for the period from 1 July to 31 October 2026. Together, those amounts make up the at-least A$122.7 million figure for the calendar year. Performance fees are earned when fund returns exceed agreed thresholds, so their timing and size depend on market movements and can change significantly from one period to the next.

The company does not currently expect any incremental performance fee revenue for the second half of 2026 to be material when compared with the amount already crystallised. It attributes this to current market conditions and recent fund performance, a position that reflects the variability of investment returns in the period.

Other income and the RG8 holding

Other income covers mark-to-market and net Fair Value gains, interest received, and dividends and distributions from Regal's investments in its own funds. In the second half of 2026, the company's investment in Regal Asian Investments Limited has had a material negative effect on other income, reflecting the decline in that company's share price during the period.

The company currently expects other income to have no material impact on normalised net profit after tax for calendar 2026. That expectation sits alongside the negative valuation movement, and the update does not explain the difference in detail, so shareholders will need to see the full-year figures to understand how the two effects net off.

Flows, funds and the next reporting milestone

The September 2026 funds under management update recorded the twelfth consecutive quarter of positive net flows. The company added incremental net inflows of A$0.1 billion in October 2026, taking total net inflows for the ten months to 31 October 2026 to A$2.2 billion. Regal's funds under management were about A$22 billion as at 30 September 2026, a figure the company describes as a management estimate that is rounded and unaudited.

The company says it will provide further detail with its calendar 2026 results, which are due in February 2027. Until then, the performance fee and other income figures are preliminary, and investors will need to watch how market conditions and fund returns evolve through the remainder of the year.

Final Word

Regal Partners has provided a clearer view of its calendar 2026 performance fee revenue, while signalling that other income has been reduced by a decline in one of its listed holdings. The positive flow trend suggests continued client Demand across the group's strategies. How the balance between fee revenue, investment gains and losses is reflected in the calendar 2026 result will become clearer when the full-year figures are published.