RAB Capital See Big Surge in Assets under Management

Contributing Editor

9 May 2006

RAB Capital, the UK-listed hedge fund, released a trading statement yesterday at its annual general meeting, saying assets under management rose 55 per cent to $4.06 billion in the first four months of 2006, compared with the year-end 2005 figure. “Performance has been strong across our range of absolute return strategies and we have experienced good inflows,” said Michael Alen-Buckley, executive chairman, in the trading update. “Our largest investment strategy, RAB Special Situations, has attained assets under management of $1.42 billion. It is now closed to new investment except via our multi-strategy products and via the forthcoming exercise of A warrants in the RAB Special Situations Company, whose shares are freely traded on the London Stock Exchange’s Alternative Investment Market.” RAB added that turnover and profits will be weighted towards the second half of the year, because the firm said: “we only book accrued performance fees once they are crystallised, which happens mainly on 31 December”.