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RAB Capital Gives Early Warning on 2007 Results
by Paula Schaap ,Senior Reporter , December 10, 2007

U.K.-based hedge fund firm RAB Capital let its shareholders know that it might not best last year’s results because of November’s market problems.

The firm said in a trading statement that it expected this year’s profits to match last year’s because of November’s “difficult” trading conditions. Last year, RAB racked up £50.3 million ($102.9 million) in profits.

RAB does not have a lot of exposure to the kinds of asset-backed securities that have caused headaches at many other financial institutions, according to a spokesman for the firm.

The fund that has been most affected by the slowdown in the United States and England has been special situations, which mostly invests in small cap U.K. mining companies.

But the timing of the market problems is also to blame since it comes so close to the time when funds report their year-end results.
  
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