Friday, 30 September 2016
Last updated 2 hours ago
Jan 18 2011 | 8:20pm ET
Troubled hedge fund RAB Capital is turning to the booming UCITS III-compliant arena in an effort to rebuild its asset base.
The London-based firm, which has seen its assets dwindle from more than US$7 billion to about US$1 billion, plans to launch its first UCITS fund, according to published reports. The firm has been mulling a move into the UCITS space since last year.
RAB’s expansion into UCITS comes as it cuts back on its exposure to Asia. The firm last month made its second round of job cuts in the region and shelved plans to launch a new Asia-focused fund, leaving the firm without a fund dedicated to the region.