{"id":9772,"date":"2009-02-02T00:00:00","date_gmt":"2009-02-02T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"rab-offloads-loss-making-funds-for-1m","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/02\/2009\/rab-offloads-loss-making-funds-for-1m.html","title":{"rendered":"RAB offloads loss-making funds for \u00a31m"},"content":{"rendered":"<p>Times Online &#8211; RAB Capital has agreed to sell Northwest, its loss-making Asia-focused investment business, back to its founding principals for only &pound;1 million in the latest sign of retrenchment by the AIM-listed London hedge fund manager. <\/p>\n<p>RAB, which originally paid more than &pound;20 million for the business, said today that it would sell Northwest&#8217;s three funds to George Philips and David Rogers, who set up the business in 1998. <\/p>\n<p>Mr Philips and Mr Rogers will take assets of about $300 million and a team of about 12 people with them. Northwest generated pre-tax profits of about &pound;9 million in 2007 but is expected to be loss-making for last year. <\/p>\n<p><a href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/business.timesonline.co.uk\/tol\/business\/industry_sectors\/banking_and_finance\/article5639510.ece\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Times Online &#8211; RAB Capital has agreed to sell Northwest, its loss-making Asia-focused investment business, back to its founding principals for only &pound;1 million in the latest sign of retrenchment by the AIM-listed London hedge fund manager. RAB, which originally [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1024,3545,459,4439,6776,6775,37,4999,3364,6777,6780,6779,6778],"class_list":["post-9772","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-1-million","tag-aim","tag-asia","tag-assets","tag-david-rogers","tag-george-philips","tag-hedge-fund-manager","tag-investment-business","tag-london","tag-mr-rogers","tag-principals","tag-retrenchment","tag-tax-profits"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9772","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=9772"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9772\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=9772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=9772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=9772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}