London-listed RAB Capital has released disappointing full-year results for 2010 that show a loss after tax of £19.4 million for the year, sharply reduced revenues and still-declining assets under management compared with year-end 2009.
The £19.4 million loss compares with a £3.1 million loss in 2009. Revenues were down 15% to £11.9 million in 2010, compared with £13.9 million the previous year. The firm also incurred a restructuring charge of £3.5 million.
RAB ended 2010 with assets under management totalling $1.06 billion, down from $1.35 billion a year earlier. The reduction included $124 million in discontinued strategies and