What Regan Capital does

Regan Capital, LLC is an SEC-registered investment adviser founded in 2011 and headquartered in Dallas, Texas, focused on fixed-income, structured credit and securitized markets with a primary specialization in residential mortgage-backed securities (RMBS). The firm manages approximately $4 billion in assets across a diversified product shelf: open-end mutual funds including Regan Tax Aware (RCIRX) and the recently launched tax-aware ultra-short duration fund (RCTRX), actively managed ETFs MBSF and MBSX listed on NYSE Arca, a UCITS-compliant RMBS ETF distributed in Europe, a pending SEC-registered Interval Fund, and private investment vehicles. Its underlying process is built on bottom-up security selection conducted by a team of portfolio managers averaging roughly 25 years of industry experience, supported by in-house research on residential mortgage credit, commercial mortgage credit and structured products.

The firm generates revenue primarily through asset-based management and performance fees on institutional and intermediary-sold vehicles. Pricing differs by wrapper: mutual fund institutional share classes (notably RCIRX) carry a 0.85% management fee, while ETF share classes (MBSX) operate at lower expense ratios around 0.40%, and private vehicles carry negotiated fee schedules. Distribution is executed through a 9-person institutional sales team covering U.S. pension plans, endowments, foundations, banks, insurance balance sheets and family offices, complemented by intermediary distribution partners Quasar (mutual fund) and Northern Lights, and HANetf for European UCITS distribution. The firm is 100% employee-owned and operates with roughly 22 professionals, indicating a relatively concentrated talent base where distribution scale depends more on specialist sales hires than on traditional wirehouse placement.

Recent operating activity signals an aggressive growth posture: AUM expanded from approximately $1.13B in January 2025 to approximately $4B by March 2026, an Interval Fund was filed with the SEC in October 2025, a UCITS ETF was launched in Europe in July 2025, and the firm received a 2026 LSEG Lipper Award for Regan's Tax Aware strategy. The combination of wrapper diversification, geographic expansion, and deepening U.S. institutional sales presence is intended to reduce reliance on a single fee channel and broaden the firm's institutional consultant footprint.

Name

Regan Capital

Legal name

Regan Capital, LLC

Website

https://regancapital.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

Regan Capital is a Dallas-based, SEC-registered investment adviser founded in 2011 that manages approximately $4 billion across mutual funds, ETFs, and pending Interval Fund vehicles, specializing in fixed-income, structured credit, and residential mortgage-backed securities for institutional and intermediary clients.

Ownership category

akta.pro rank

Product category

Fixed-Income Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910)

SIC

Investment Advice (6282)

akta.pro primary industry

Multi-Sector / Total Return Fixed Income (FSAAAHAJ)

akta.pro secondary industries

Registered Investment Advisor (RIA) Wealth Management (FSAEABAA), Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions) (FSAAACAG)

Keywords

• Fixed income management
• Mortgage-backed securities
• Structured credit investing
• Asset management
• Investment advisory services

Headquarters

HQ city

Dallas

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Investment Management Fees: Regan Capital earns management fees as an SEC-registered investment adviser managing approximately $4 billion in assets under management. Fees are charged as a percentage of assets under management across its mutual funds, ETFs, and interval fund products.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Regan Capital is an SEC-registered investment adviser that manages actively managed fixed-income strategies with a primary focus on residential mortgage-backed securities (Agency RMBS) and government-backed securities. The firm operates mutual funds, exchange-traded funds, an interval fund, and separately managed accounts, pursuing capital preservation, current income, and risk-adjusted returns through bottom-up security selection overlaid with top-down macro analysis.

Product overview

Regan Capital is an SEC-registered investment adviser specializing in fixed-income, credit, and structured finance with approximately $4 billion in assets under management. The firm operates a multi-product platform comprising mutual funds (RCIRX, RCTRX), exchange-traded funds (MBSF, MBSX, and UCITS ETF), an interval fund (Alternative Income Fund), and private investment vehicles. All products focus on mortgage-backed securities and government-backed securities with an emphasis on capital preservation, transparency, and active management. The investment approach prioritizes short-duration, floating-rate mortgage securities to navigate market volatility while seeking consistent income generation.

Differentiator

Problem solved

Functional benefit

Products and services

• Regan Total Return Income Fund (RCIRX) Actively managed open-ended mutual fund seeking high risk-adjusted current income and capital appreciation through investment in fixed income securities with focus on mortgage bonds. For individual investors and advisors accessing institutional-quality fixed income management.
• Regan Total Return Income Fund (RCTRX) Mutual fund share class offering exposure to the same Total Return Income strategy as RCIRX.
• Regan Floating Rate MBS ETF (NYSE: MBSF) Actively managed ETF investing primarily in floating rate Agency Residential Mortgage-Backed Securities, providing exposure to short-duration, floating-rate mortgage securities designed to navigate interest rate volatility.
• Regan Fixed Rate MBS ETF (NYSE: MBSX) Actively managed ETF investing primarily in fixed rate Agency Residential Mortgage-Backed Securities, offering enhanced spreads over Treasury and corporate bonds through alpha generation from actively managed Agency RMBS portfolio. Charges 0.40% annual operating expense fee.
• Regan Total Return Income Fund UCITS ETF (LSE: RMBS) UCITS ETF listed on European exchanges (LSE) providing international investors access to the Regan Total Return Income strategy, investing in residential mortgage-backed securities and government-backed securities. Launched July 2025 in partnership with HANetf.
• Regan Capital Alternative Income Fund Closed-end interval fund registered with SEC offering quarterly liquidity (5-25% repurchase offers) with focus on mortgage-backed securities and private alternative credit opportunities. Mandate to invest at least 80% of net assets in debt obligations including non-agency residential MBS, with portfolio duration expected to be less than five years. For institutional and high-net-worth investors.
• Private Placement Funds Private placement funds tailored to client risk and liquidity objectives, providing access to fixed income strategies with potential for enhanced returns through less liquid structures.
• Separately Managed Accounts Customized investment accounts designed to meet specific client risk and liquidity objectives with direct access to Regan Capital's fixed income expertise.

Quantifiable outcome

• RCIRX generated 5.45% annualized return over 5 years and 41.46% cumulative return since October 2020 inception through December 2025
• +2 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered core.

• HANetfcoreChannel Partner/ Reseller/ Distributor · 1 July 2025Regan Capital partnered with HANetf to launch the Regan Total Return Income Fund UCITS ETF (LSE:RMBS) in July 2025, expanding distribution of Regan's fixed income strategies to European investors through HANetf's UCITS platform.
• Quasar Distributors, LLCcoreChannel Partner/ Reseller/ DistributorQuasar Distributors, LLC serves as the principal underwriter and distributor for Regan Capital's mutual funds (RCIRX, RCTRX) and the MBSX ETF. Quasar is a registered broker-dealer and member FINRA/SIPC.
• Northern Lights Distributors, LLCcoreChannel Partner/ Reseller/ DistributorNorthern Lights Distributors, LLC (member FINRA/SIPC) distributes the Regan Floating Rate MBS ETF (MBSF). Regan Capital, LLC is not affiliated with Northern Lights Distributors, LLC.
• U.S. Bank National AssociationcoreOthersU.S. Bank National Association serves as the primary custodian of assets for the Regan Capital Alternative Income Fund. U.S. Bank Global Fund Services provides fund accounting, administration, compliance, transfer agent, and dividend disbursement services for the interval fund.

Scale indicators13 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• BlackRock: World's largest asset manager with extensive fixed-income, MBS, and ETF offerings (iShares) and institutional distribution. Competes with Regan for institutional MBS allocations and ETF shelf space, but at incomparably greater scale.
• Western Asset Management: One of the largest active fixed-income managers globally with deep MBS and structured credit capabilities across institutional, mutual fund, and ETF vehicles. Comparable to Regan's core competency in mortgage-backed securities but at materially greater scale and broader product breadth.
• PIMCO: World's largest dedicated fixed-income manager with extensive MBS, structured credit, and ETF capabilities across institutional and retail channels. Comparable product set but at vastly greater scale and broader asset coverage than Regan.
• PGIM Fixed Income: Large institutional fixed-income manager affiliated with Prudential Financial, with deep MBS and structured credit capabilities and a global institutional client base. Comparable core competency to Regan but at materially greater scale.
• Voya Investment Management: Mid-large fixed-income manager with strong MBS and multi-sector credit capabilities across institutional and retail mutual fund platforms. Overlaps with Regan in MBS strategy focus and institutional client base.

Direct peers

• DoubleLine Capital: Founded by Jeffrey Gundlach, DoubleLine is a specialist fixed-income and mortgage-backed securities manager with multi-billion AUM across active mutual funds and ETFs. Highly comparable to Regan in its focus on MBS and structured credit alpha generation, multi-product platform (mutual funds and ETFs), and institutional distribution.
• Angel Oak Capital Advisors: Atlanta-based boutique manager specializing in structured credit, residential MBS, and alternative income strategies across mutual funds and interval funds. Directly comparable to Regan's MBS-centric, multi-product platform serving both institutional and retail investors.
• TCW Group: Los Angeles-based active asset manager with significant fixed-income and MBS capabilities across institutional and retail channels, including mutual funds and ETFs. Comparable to Regan in MBS specialization, multi-product structure, and institutional-led distribution.
• Payden & Rygel: Independent, employee-owned investment firm managing fixed-income strategies including MBS exposure for institutional and intermediary clients. Closely matches Regan's employee-owned structure, multi-sector fixed-income focus, and institutional client mix.
• Loomis Sayles: Boston-based active fixed-income manager with multi-sector strategies including MBS and structured credit across mutual funds, ETFs, and institutional mandates. Comparable in active multi-sector fixed-income approach and product breadth.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/regancapital
• Xx.com/ReganCapital

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Regan Capital