Sunday, 29 March 2015
Last updated 1 day ago
Jul 23 2007 | 2:01pm ET
London hedge fund manager RAB Capital continues to post impressive profit growth as it opens its first office outside of Britain’s capital.
RAB said today that its first-half profits rose 58% to £22.7 million, buoyed by a 69% spike in assets under management, which now stand at US$6.7 billion. The firm gave shareholders something else to be happy about: a 140% increase in their interim dividend.
“It’s a good set of results that shows RAB Capital has managed to maintain an attractive and steady rate of growth, which is profitable, in all areas of activity,” CEO Philip Richards told reporters.
Richards added the firm is planning a push for more clients in Asia, opening an office in Hong Kong. The new office will house investment management and advisory operations for both RAB and Pi Investment Management, the Hong Kong-based hedge fund RAB bought last month.
“The growth of the world is being driven by China,” Richards said. “It’s our first foreign office and it’s not in the U.S. That tells a story.”
Growth for the firm may not be limited to Pi and Hong Kong: Richards said RAB may buy another firm sometime this year, and is considering the launch of another listed hedge fund vehicle.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…