re: new substantial holder
Our new substantial holder got a mention in this weekend's FT - not a bad track record...
One UK-based fund to achieve “superstar” status is that run by RAB Capital’s Philip Richards.
“Natural resources have always moved in a very long cycle, and we came to the end of a long and nasty down cycle in 2001,” says Mr Richards, who also runs the firm’s RAB Special Situations fund. While the consensus at the time was that commodity prices were poised for a short-term recovery, he felt that many global economic forces at work, including the urbanisation of China and India, portended a long bull market.
His correct thinking has been enormously profitable. RAB Special Situations has made its original investors 40 times their money after fees. The fund’s 2,708 per cent three-year return through January made it by far the best-performing hedge fund during that period. Almost as remarkable is that Mr Richards has used little or no leverage.
“RAB Special Situations is clearly the superstar,” says Philippe Bonnefoy of fund-of-fund Cedar Partners, which is Cayman Islands domiciled.
AAE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
