RAB Assets Hold At US$1.35 Billion

Apr 30 2010 | 1:05pm ET

Even as they return to the hedge fund industry in general, investors appear unconvinced that RAB Capital has turned a corner.

The London-based hedge fund said its assets held steady during the first four months of the year, as redemptions balanced inflows and strong returns. The firm said it managed US$1.35 billion today, down from more than $7 billion just 16 months ago, Reuters reports.

Investors pulled US$53 million from RAB funds between January and April. Other investors and the markets added about US$50 million.

RAB also said that only 5% of investors in its troubled Special Situations flagship sold their stakes at a recent auction. Less than 15% attempted to do so, but refused to accept the low prices on offer. RAB has restricted redemptions in Special Situations since it lost 70% in 2008.

The fund is up 3.5% this year. RAB’s other funds are doing even better, with its energy funds up 18.5% and 14% and its Credit fund up 9.5%.


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