RAB Posts Loss, But Assets, Returns Rise

Mar 24 2010 | 11:31am ET

RAB Capital took a beating last year, despite the strong performance of its hedge funds.

The London-based hedge fund posted a £6.95 million loss before taxes and exceptional items in 2009 as investors spent most of the year fleeing the firm. Assets under management slumped to US$1.26 billion by the middle of last year, down from more than US$7 billion just a year-and-a-half earlier.

But investors are returning to the firm—which saw assets rise to US$1.35 billion by the end of 2009—thanks in no small part to the turnaround in its performance.

RAB’s Energy fund soared 86.9% last year, and several other funds enjoyed high double-digit returns, as well. Its Global Mining and Resources fund jumped 76.5%, its Credit Opportunities fund 46.4% and its Emerging Market Opportunity fund 30.6%.

RAB CEO Stephen Couttie said the firm was on the lookout for possible acquisitions, and may soon jump on the UCITS III-bandwagon.

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