The listed Regal Investment Fund has maintained its leading performance among ASX-listed investment companies and trusts, delivering a 100 per cent return over 12 months thanks to bets on resources and smart trades around index rebalancing.In a monthly update published to the Australian Securities Exchange on Wednesday, the $470 million listed investment trust reported its net asset value increased 6.7 per cent in April. That lifted the 12-month performance of the fund, which trades under the ticker RF1, to 108.5 per cent, while its average return since inception in mid-2019 is just shy of 40 per cent a year.The net asset value of Regal Investment Fund, under Phil King, increased 6.7 per cent in April. Sam MooyThe fund is invested in six of the Sydney-based hedge fund’s strategies, of which the Global Alpha Strategy and Emerging Fund strategies have been the strongest contributors.“Elevated global equity capital market activity and a number of global sector ETF re-weightings provided attractive opportunities for the Global Alpha strategy, with positive contributions coming across the US, Japanese and Hong Kong markets,” Regal told its investors.The fund said its other strategies benefited from a strong overweight exposure to resources, including a long position in gold, lithium and iron ore. A holding in Orocobre, which gained 42 per cent after announcing a merger with Galaxy, also lifted its performance.RELATED QUOTESOREOrocobre Limited$6.560 -4.09%1 year1 dayMay 20Nov 20May 211.5004.5007.500Updated: May 13, 2021 – 10.23pm. Data is 20 mins delayed.View ORE related articles AdvertisementRegal, however, took a hit from its position in Nuix, which slid 20 per cent last month after downgrading its revenue guidance.Regal’s $4.67 share price on Wednesday represents an 8 per cent premium to the $4.29 latest disclosed net asset value.Regal is one of several hedge funds that raised money on the Australian Securities Exchange through a listed investment company or listed investment trust. It is, however, one of the few funds that trade at a premium to the value of its underlying portfolio.
