Media Release: Regal Investment Fund (ASX: RF1) offer exceeds $100m

Sydney, AUSTRALIA – 3 May 2019: The initial public offering (“Offer”) for the Regal Investment Fund (“Fund”) has surpassed the minimum raise amount of $100 million within days of the Offer opening. The Fund will be managed by one of Australia’s leading alternative investment managers, Regal Funds Management Pty Ltd (“Regal”), and is seeking to raise up to $500 million.

“We are very humbled and pleased to have exceeded the minimum threshold in such a short period of time. We believe this supports our thesis that many investors are seeking diversification away from the traditional asset classes in their portfolio, and we believe the Fund can provide that diversification,” said Regal CIO, Phil King.

The Fund aims to provide investors with attractive risk adjusted absolute returns over a period of more than 5 years, with limited correlation to equity markets. The Fund structure will provide investors with exposure to a blend of Regal investment strategies, anchored to Regal’s award-winning Market Neutral Strategy. Regal may adjust the Fund’s strategy allocations depending on prevailing market conditions or other factors it considers relevant at the time and in accordance with the investment guidelines.

Mr. King stated that, “our investment thesis is premised on maximizing the available opportunities to profit from market inefficiencies, to take advantage of both rising and falling investment prices. The Fund is designed to exploit those opportunities.”

The Fund has received a Recommended rating from Zenith Investment Partners and a Recommended Plus rating from Independent Investment Research.  Please refer to the Regal website for additional information.

 

Details of the Offer

The Equity Trustees Limited as Responsible Entity of the Fund is offering up to 200 million new units at $2.50 per units to raise up to $500 million (hard limit).

 

To participate in the Offer

The Offer is being made by Equity Trustees Limited as Responsible Entity of the Fund under a product disclosure statement dated 8 April 2019 (PDS) which is available on https://www.regalfm.com/site/regal-investment-fund. Investors should consider the PDS in its entirety, including the terms of the Offer and risk factors involved in investing in Fund before applying to participate in the Offer.

Applications under the Offer can be made by completing the application form attached to the PDS or online through the application form accompanying the PDS. Applicants under the broker firm Offer should contact their broker for application details

The Lead Arranger to the Offer is National Australia Bank Limited. The Joint Lead Managers are Bell Potter Limited, Evans Dixon Limited, Morgans Financial Limited, Morgan Stanley Australia Limited, National Australia Bank Limited, Ord Minnett Limited, Shaw and Partners Limited, Taylor Collison Limited and Wilsons Corporate Finance Limited. Seed Partnerships is the Corporate Advisor to Regal, Kardos Scanlan Lawyers are the Australian Legal Advisers to the Offer, and Ernst and Young are the Investigating Accountant and Tax Adviser. Equity Trustees Limited is the Responsible Entity.

 

Proposed Key Dates

Offer Open

29 April 2019

Broker firm Offer close

24 May 2019

General offer close

Earlier of $500m or 29 May 2019

Expected ASX listing

17 June 2019

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The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned 26 April 2019) referred to in this document is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at http://www.zenithpartners. com.au/RegulatoryGuidelines