Oct. 12 (Bloomberg) — RAB Capital Plc, a London-based hedge fund manager, increased its investment in companies that mine for uranium, betting concerns about global warming will make nuclear energy more popular.
RAB bought shares of Canada’s Cameco Corp. and South Africa’s Aflease Gold & Uranium Resources Ltd. in the past year for its $615 million Special Situations hedge fund and a 45-million-pound ($78 million) U.K. closed-end fund that mirrors the hedge fund.
Concerns that rising emissions from burning fossil fuels are warming the earth’s atmosphere and contributing to storms like Hurricane Katrina are leading the public to reevaluate nuclear energy, said Philip Richards, RAB’s 45-year-old chief executive officer, in an interview.
