Regal Partners Limited · ASX:RPL
Regal Partners — Wilsons Rapid Insights Conference 2024
22 slides from Regal Partners's conference presentation, May 23, 2024
Slide 1: Wilsons Rapid Insights Conference Presentation
Regal Partners Limited ABN 33 129 188 450 Level 47 Gateway, 1 Macquarie Place Sydney NSW 2000 Australia T. +61 2 8197 4350 www.regalpartners.com 23 May 2024 ASX Market Announcements Office ASX Limited Exchange Centre 20 Bridge Street Sydney NSW 2000 Wilsons Rapid Insights Conference Presentation Reg
Slide 2: Regal Partners Limited (ASX:RPL)
Regal Partners Limited (ASX:RPL) Wilsons Rapid Insights Conference Presentation 23 May 2024
Slide 3: Disclaimer
Disclaimer The information in this presentation (Information) has been prepared by Regal Partners Limited (ABN 33 129 188 450) (Regal Partners) and is current as at the date of this presentation. All currency data in this presentation is in Australian dollars (A$) unless stated otherwise. No solicit
Slide 4: Regal Partners Limited Overview
Regal Partners Limited (ASX:RPL) Overview Regal Partners Limited is an ASX-listed, specialist alternative investment manager with $12.1 billion1 in funds under management. $12.1bn $757m >70 Funds Under Market capitalisation2 Investment professionals3 Management (FUM) 1 • Combining deep industry expe
Slide 5: 2023 was a year of accelerating growth & diversification
2023 was a year of accelerating growth & diversification Funds Under Management up +113% to $11.0bn1 Revenue up 17% to $112m 2; strong rebound in performance fees in 2H Momentum in net inflows, despite challenging capital raising environment Accelerating diversification of FUM by asset class
Slide 6: FUM Flows and Performance
FUM Flows and Performance
Slide 7: Accelerating FUM growth across a diverse range of strategies and client channels
Accelerating FUM growth across a diverse range of strategies and client channels 5% +2.6x 1.75 years 28% 11% 2% $12.1bn 8% +30k investors 56% +4.3x 38 institutions $4.7bn 10% 5 years 14% +20k investors 6% 3 institutions RFM 65% 5% $1.1bn 90% June 2017 June 2022 (post-merger) March 2024 Long / short
Slide 8: FUM growth driven by flows, performance and acquisitions
FUM growth driven by flows, performance and acquisitions1 $14bn $0.8bn ($0.1bn) $12.1bn $12bn ($0.2bn) $11.0bn $0.4bn $2.8bn $10bn $2.2bn $8bn $0.5bn $0.5bn $6bn $5.2bn $4bn $2bn 2023 1Q24 - Dec-22 Net flows Investment Taurus PM Capital Other Dec-23 Net flows Investment Other Mar-24 performance perf
Slide 9: FUM diversity increasing as the business grows; revenue synergies expected over time
FUM diversity increasing as the business grows; revenue synergies expected over time FUM BY ASSET CLASS FUM BY LIQUIDITY FUM BY CLIENT CHANNEL1 Credit and Royalties driving further Diversification of fund liquidity profile provides Highly diversified by channel, with >30,000 diversification of FUM s
Slide 10: Strong start to net flows in the first quarter of 2024
Strong start to net flows in the first quarter of 2024 following challenging capital raising environment in 2023 12mths to Dec 2023 STRONG START TO THE CALENDAR YEAR, +$0.4BN OF NET FLOWS IN FIRST QUARTER +$0.5bn • Net flows in 1Q24 largely skewed to the long / short equity strategies and an increas
Slide 11: Strong performance across a diverse range of strategies
Strong performance across a diverse range of strategies 3 YEAR ANNUALISED AND YTD NET PORTFOLIO RETURNS TO 30 APRIL 20241 Regal Resources Royalties 42.2% Regal Tactical Opportunities 29.3% 15 PM Capital Global Opportunities (ASX:PGF) 18.5% PM Capital Global Companies 17.5% 13 Regal Australian Long S
Slide 12: FUM at or above high-water mark increasing
FUM at or above high-water mark increasing Proportion of performance fee-eligible FUM close to, or above, high-water mark (HWM) Selection of funds/strategies at or above HWM: 100% • Regal Australian Small Companies 12% • Regal Resources Long Short 90% 19% • Regal Tactical Opportunities 25% 29% 7% •
Slide 13: Financials
Financials
Slide 14: Normalised profit or loss statement
Normalised profit or loss statement Year to Year to 2023 vs $m 1H23 2H23 Dec 20221 Dec 20231 2022 FUM (including non-fee-earning) ($bn)2 5.2 5.8 11.0 11.0 +103.7% • Normalised NPAT up 31.9% on pcp, driven by increased Average FUM (including non-fee-earning) ($bn)2 5.4 5.4 6.6 6.0 +11.1% revenues and
Slide 15: Pro forma normalised financials for calendar 2023
Pro forma normalised financials for calendar 2023 Prepared on a pro forma normalised basis for each business (pre known expense initiatives and other synergies) REGAL PARTNERS $m TAURUS2 PM CAPITAL3 PRO FORMA (STANDALONE)1 FUM at 31 December 2023 ($bn)4 5.8 2.2 2.9 11.0 • Results are presented on a
Slide 16: Strong balance sheet
Strong balance sheet $m 31 Dec 20221 30 Jun 2023 31 Dec 2023 • Strong balance sheet at 31 December 2023 even after cash payments Cash and cash equivalents 39.8 37.2 17.2 related to acquisitions of PM Capital and Taurus Funds Management, plus dividend payments of ~$23m during 2023. Trade and other re
Slide 17: Platform for Growth
Platform for Growth
Slide 18: A scaleable corporate and operating platform, supporting growth and integration
A scaleable corporate and operating platform, supporting growth and integration OPPORTUNITY TO FURTHER IMPROVE SCALE & DIVERSIFICATION Long/Short Private Markets Private Equity Credit Real Estate Infrastructure Commodities Structured Solutions TYPICAL ALTERNATIVE CATEGORIES • Market Neutral • Pre-IP
Slide 19: Robust technology and operating platform underpins growth and scale
Robust technology and operating platform underpins growth and scale PROPRIETARY TECHNOLOGY & OPERATIONAL EXTENSIVE MARKET CONNECTIVITY INTEGRATED CONTROLS, INFRASTRUCTURE & RELATIONSHIPS RISK & COMPLIANCE FRAMEWORK Regal’s proprietary operational, risk and trading Regal’s accelerating size and scale
Slide 20: Client-centric approach to sales and product development
Client-centric approach to sales and product development MULTI-CHANNEL MULTI-ASSET CAPABILITY Sales and IR team servicing clients across institutional, family 6 1 Single strategy & multi-strategy capability, supporting single PM or multi-PM office, advisory and direct management across asset classes
Slide 21: Growth-focused strategy of RPL remains unchanged
Growth-focused strategy of RPL remains unchanged With multiple opportunities for expansion 1 Diversified, scalable and growing platform 2 Attractive market tailwinds 3 Strong business economics 4 Multiple opportunities for growth 20
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