RAB Profit Hit By Big Decline In Flagship’s Performance

Dec 11 2007 | 10:23am ET

A rough November is putting a crimp in hedge fund giant RAB Capital’s bottom line.The firm yesterday said pre-tax earnings for 2007 will be flat, after its flagship hedge fund fell 10% last month, cutting into its performance fee income.

London-based RAB said in a statement to the London Stock Exchange—on which its shares are traded—that its Special Situations Fund was hurt by investments in smaller British companies. RAB also owns more than 6% of troubled U.K. bank Northern Rock.

RAB earned £50.3 million (US$102.5 million) last year, and had been expected to post a £53.1 million (US$108.2 million) pretax profit this year.


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...