Monday, 24 November 2014
Last updated 13 min 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."
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...