Street Talk

How Regal’s Global Small Companies Fund made 15pc in June

Sarah Thompson, Kanika Sood and Emma Rapaport

Jul 16, 2025 – 5.00am

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Regal Partners turned heads earlier this month when it announced it expected to recognise at least $35 million in performance fee revenue in the first half of the financial year. How did it get there? Regal called out two main strategies, including its Global Small Companies fund, launched in April.

Three months’ worth of performance does not a track record make, but a fund update put in front of investors on Tuesday gives us some clues as to how portfolio manager Jessica Farr-Jones pulled off a jaw-dropping 14.7 per cent return in June, and 40.4 per cent since inception.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.