Dow Jones – Hedge-fund operator RAB Capital PLC (RAB.LN) Wednesday slashed its dividend to conserve cash, as it reported another decline in the assets it manages from investor redemptions and poor fund performance, and said conditions continue to be tough for raising new investor capital.
The London-based group, which managed $1.26 billion at June 30, down from $1.35 billion at the start of the year, said assets have fallen further in July because of losses in its flagship Special Situations fund and from a European bank pulling cash from RAB’s fund of funds.
