Thursday, 21 August 2014
Last updated 7 hours ago
Sep 30 2011 | 10:48am ET
Rubicon Fund Management posted a 50% jump in its fee income last year, a feat unlikely to repeated this year after the London-based firm's assets under management fell by more than US$1 billion.
Rubicon took in £39 million in fee income in 2010, it said in a regulatory filing. In 2009, the firm earned £26 million from fees.
The higher income is in large part the result of Rubicon's 14% returns last year. But its management fee income will fall dramatically this year, as Rubicon's assets have fallen from US$1.65 billion to US$490 million, Financial News reports. Investors headed for the doors after top fund managers Santiago Alarco and Tim Attias left the firm to found their own; Rubicon is now suing them and their new firm, Sata Partners.
Despite the big jump in fee income, Rubicon's profits to be divided among its partners rose only slightly to £24 million from £23.6 million.
Aug 4 2014 | 7:42am ET
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The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note