Friday, 22 May 2015
Last updated 7 hours ago
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.
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…