Sunwah International, an Asian-based financial services firm
formerly known as Kingsway International Holdings, is taking
over the management of the RAB Energy and RAB Octane funds and
also buying a controlling stake in London-based asset
management platform PCE Investors to kickstart its bid to
develop its presence in the global hedge fund market.
The group's asset management arm, Sunwah International Asset
Management (SIAM), has entered into a non-binding letter of
intent with RAB Capital plc, the beleaguered London-listed
asset manager, for the purchase and novation of the investment
management agreements of its Energy Fund and Octane Fund.
The arrangement follows last week's announcement by RAB that
it planned to delist from the London AIM market via a proposed
buyout by its executive directors. RAB had also said last week
that it was seeking to sell the...