Thursday, 26 March 2015
Last updated 1 hour ago
Jul 15 2013 | 9:47am ET
RAB Capital's Special Situations fund lost 11.3% in June, leaving it down almost 20% in Q2.
The fund was recast as a natural resources-focused fund in 2011, after several years of poor—some would say disastrous—performance (it lost over 70% of its assets in 2008, returned 4.6% in 2009 and lost 7.6% in 2010).
The firm's assets under management have also diminished—from several billion at its high-water mark to a few hundred million today.
Michael Alen-Buckley, who founded the firm with Philip Richards in 1999, told The Independent newspaper: "China has been slowing down and Brazil has had problems, which hasn't helped. Gold has fallen from $1,700 to $1,200, which hasn't helped. We are in a big bear market for commodities—all the commodity funds are suffering redemptions. It is an unloved sector in a bear cycle."
The Special Situations fund is over 80% invested in oil and gas, base metals and gold.
Richards told the paper, "While momentum could see the sell-off intensify in the near term, the pull-back should provide attractive entry points for risk assets in a number of commodities, especially crude oil, copper and gold."
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…