HedgeCo.Net (New York) – RAB Capital, the $5 billion hedge fund, doubled its turnover for the year to at least $229 million, while pre-tax profit soared 95% and assets undermanagement went up to $5.18bn.

Assets under management as at 31 December 2006 jumped 98% from $2.62bn a year earlier “After an excellent opening four months, trading in 2006 became more challenging during the summer period, butconditions improved significantly in the fourth quarter,” the hedge fund said.

Net asset inflows were strong in the first half and there was a revival in the final quarter which included a long term allocation of $200m by Mittal family trusts to RAB Special Situations.

“The near-doubling of assets under management over the course of 2006, further successful investment performance and an even stronger balance sheet, give us an excellent base from which to advance inthe year ahead,” said chief executive Philip Richards.

“2007 offers RAB Capital new opportunities, and management will focus both on organic growth and on those opportunities that add to our strong existing line-up,” added executive chairman MichaelAlen-Buckley.

Alex Akesson
Contributing Writer
HedgeCo.Net
Email: Editor@hedgeco.net