Wednesday, 22 October 2014
Last updated 12 hours ago
Jan 18 2011 | 3:24pm ET
RAB Capital's recovery apparently does not extend to Asia. The troubled London-based hedge fund, which enjoyed a strong year from two of its funds, has reduced its Hong Kong office—its only international office—to a rump.
The firm bade farewell to four members of the five-person team it hired from D.B. Zwirn & Co. in 2009 in December, Bloomberg News reports. The cuts leave just four employees in Hong Kong, led by RAB Asia CEO David Seex.
But Seex now oversees a region where RAB has no dedicated funds and no plans to launch one. The firm shuttered its last Asia hedge fund, run by its Pi investment team, late last year, and cancelled plans to have the former Zwirn team launch a distressed fund.
"We have taken action to reduce our cost base in Asia," the firm said. "We're now focused on expanding our Asian investor base in our core products, several of which delivered very strong returns in 2010."
RAB is retrenching in Asia as other funds are returning to the region after cutting back during the financial crisis.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...