Regal Navigates July Turmoil, King Rejects Merger Talk

Phil King ‘catches the rebound’ after Regal’s horror month

The hedge fund manager’s bet against bank stocks and JB Hi-Fi has coincided with a flurry of M&A among ASX small caps, helping to salvage performance.

Regal Navigates July Turmoil, King Rejects Merger Talk

Regal, an investment powerhouse overseeing approximately $21 billion in assets, faced a challenging July, which co-founder Phil King described as one of the tougher months for its fund suite. The firm, which manages a range of investment portfolios across various asset classes, was significantly exposed to the violent unwinding of South Korea’s leverage-fuelled artificial intelligence trade, a sharp pullback in gold stocks, and persistent strugg…