RAB crisis deepens as redemptions continue, Wilson quits

Wed May 11, 2011




The crisis at RAB Capital, the AIM-listed asset manager that has been one of the principal hedge fund casualties of the financial meltdown in 2008, took a further lurch for the worse this week as the group revealed yet more redemptions in its fast-depleting stable of funds and the departure of Gavin Wilson, the manager of the firm's flagship RAB Energy Fund.

Just a few weeks after revealing redemptions of 79% in its once-flagship RAB Special Situations Fund once the three-year lock-up on investors expires later this year - amounting to $360 million out of the $460 million left in the fund - the firm said it had also received significant redemption notices for the long-running RAB...

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