Thursday, 18 September 2014
Last updated 8 hours ago
Sep 23 2008 | 11:19am ET
Less than a week before a crucial vote to decide the fate of its flagship fund, RAB Capital cannot tell its investors that things are turning around.
The renewed attention of manager Philip Richards, who left his post as CEO of the firm to focus on the firm’s sinking Special Situations Fund, has not helped. The fund has fallen a further 30% over the past month, and is down 56.5% on the year, Financial News reports.
Shares of a listed hedge fund vehicle that invests in Special Situations are doing even worse, down 73.6% year-to-date. The fund, which once managed as much as US$2.3 billion, now manages less than US$1 billion.
Earlier this month, RAB asked Special Situations investors to accept a new three-year lockup in exchange for lower fees. Investors have until Monday to accept or reject the deal. If they choose the latter path, RAB will hold a second vote on whether or not to liquidate the funds.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.