RAB reveals $370m in redemptions for Special Sits strategy


RAB Capital, the London-listed asset manager that has been among the most prominent hedge fund casualties of the global financial crisis, has revealed huge redemptions for its once-flagship Special Situations strategy when it reopens in October that will reduce the firm’s assets under management by almost 40%.

The firm said today in a stock exchange announcement that it expects 79% of the RAB Special Situations Fund to be repaid to investors when the fund reopens for subscription and redemptions on 1 October after going into suspension in 2008. “Redemption notices equivalent to this amount were submitted by investors