Friday, 25 July 2014
Last updated 22 min ago
Dec 11 2007 | 9:23am 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…