Sunday, 26 April 2015
Last updated 1 day 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.
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…