Yes, I have a Regal AARF account, but I like to call it the RAARF ... easier to pronounce.
The RAARF is open to essentially anybody, but with a minimum investment of $250k. At present the fund size is $278m, which obviously is manageable. However, I have noted that many other successful funds which I enquired about investing in are closed to new investors. Hence, perhaps when the RAARF fund size climbs to a higher value, the RAARF will also be closed to new investors. The RAARF uses quite high leverage, and hence, an investor needs to have the stomach for volatility and significant draw-downs on occasion. The only thing that I don't like about the RAARF is the quarterly redemption frequency. That is, if you need to withdraw some cash you need to plan at least 3 months in advance. Hence, if a draw-down period sets in, which was the case for the first 4 months of 2016, it is essentially too late to withdraw funds.
I haven't seen any funds with such an aggressive and successful strategy with a smaller minimum investment, but I have not been looking for any either.
The Regal Long Short Australian Equity Fund has a minimum investment of $50k, but the returns are less impressive than for the RAARF due to the lower leverage applied. The RLSAEF redemption frequency is daily, which would be nice, but is probably not practical for an aggressive strategy such as that employed by the RAARF.
Maybe you can invest in the RAARF indirectly via a third party Investment Manager, but I have no knowledge in this respect.
Regarding creating a LIC version of the RAARF, who knows. Bennelong created a LIC version, AEG, of the Bennelong Long Short Equity Fund, hence, maybe Regal will create a LIC one day. I would have liked to invest in the Bennelong Long Short Equity Fund but by the time I first looked at it, it was already closed to new investors.
