Wednesday, 3 June 2015
Last updated 21 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…