Tuesday, 28 April 2015
Last updated 10 hours ago
Jan 11 2010 | 2:50am ET
For the first time in two years, RAB Capital has ended a half with more assets than it started with.
The London-based hedge fund said net inflows—primarily from institutional investors—totaled 9% in the second half of last year, boosting assets to US$1.37 billion. It’s a start, but still a far cry from the more than US$7 billion the firm managed at the end of 2007.
The firm said that it expected to post a £3 million after-tax loss for 2009, down from £17 million a year earlier. The latter figure was distorted by some £18 million in charges related to the firm’s initial public offering. The firm’s first-half pretax lass totaled £2.75 million.
CEO Stephen Couttie said RAB was focusing more attention on raising institutional money. That emphasis will no doubt be helped by the fact that many of the firm’s offerings are nearing their high-water mark, and that almost all made money last year.
The firm’s Energy found soared 87% last year, while its Global Minerals and Resources fund rose 76.5%. Its Credit Opportunities fund added 46.4%. But its flagship Special Situations fund failed to rebound much from its catastrophic 2008, returning just 4.6% in 2009.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…