RAB Capital reported a greater loss in the first six months ending June 30 than the previous year’s first half as investors pulled $63 million out of funds that had to be restructured.
Pre-tax loss in 1H 2010 was £3.3 million ($5.2 million) as compared to a loss of £2.7 million for the same time the year before, the firm said in a statement.
Assets under management were $1.26 billion, about the same as 1H 2009 and down from $1.35 billion in December 2009 after investors redeemed $63 million from the firm’s restructured energy fund.
RAB Capital said investors had been fully repaid from the energy fund and it had re-opened the fund to outside investment.
At its height in 2007, London-headquartered RAB Capital had about $7 billion in AUM.
Related Stories
Northwest Assets Up After RAB Spinoff
RAB Capital Still Down, But Not Out