Thursday, 18 December 2014
Last updated 47 min 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.