UK-quoted hedge fund manager RAB Capital expects its profits for the first half of this year to be "significantly lower", after assets under management declined 12% in the first four months of the year on the back of fund redemptions and negative fund performance.
As of May 1, RAB managed assets worth $6.3bn (â¬4bn), down from $7.2bn at the end of December. This decline reflects negative fund performance and net fund redemptions in broadly equal measure, the company said in a trading update. Over the past 12 months, assets under management have increased 2%.
