Annual profits of RAB Capital have fallen by 92.5 per cent to only £3.8 million after a slump in performance fees.
From the Times:
Annual profits of RAB Capital have fallen by 92.5 per cent to only £3.8 million after a slump in performance fees.
The London hedge fund manager, which also has been hit by the fall in commodity prices and by the woes of the small-cap corporate sector, said that assets under management had tumbled by 74 per cent to only $1.9 billion (£1.3 billion) at December 31. Stephen Couttie, the chief executive, blamed the fall, from $7.2 billion a year earlier, on a combination of investors redeeming assets from restructured funds and the effects of tumbling markets.
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However, RAB insisted that it was well placed to recover.
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