RAB Capital has grown its assets by 52% from June 2004, and sits managing $2.26bn, according to the ...
RAB Capital has grown its assets by 52% from June 2004, and sits managing $2.26bn, according to the latest interim results to 30 June from the London-based, AIM-listed hedge fund group.
The company added that the increase in assets is not purely through inflows - Rab pointed out that its accrued performance fees from its 15 funds were "more than five times higher than this time last year."
The group has also raised its pre-tax profit by 140%, compared to the six months to June 2004, to £5.5m. Among its funds, only Rab Europe has declined significantly in assets under management, falling from $394m as at 30 June 2004, to $172m on 30 June this year.
Impressive asset growth was recorded by Special Situations ($551m against $235m on 30 June 2004), Rab Energy ($276m against $38m), and Rab UK ($266m against $137m).
Part of the improvements to its figures comes from M&A, but Rab noted that although its purchase of Cross AM in June improved AUM figures by $247m, the timing of the purchase meant second half earnings would be boosted.
In September, Rab strengthened its strategic planning by appointmenting Rod Barker from Credit Suisse First Boston's prime brokerage team to be director of business development and distribution.
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