RAB Capital narrows losses

HEDGE fund firm RAB Capital has narrowed its full year net losses as new investors helped the business recover from the recession.

The energy and commodities funds specialist posted an after-tax loss of £3.1m for last year compared with a loss of £17.1m in 2008.

Assets under management improved to $1.35bn (£899m) at the end of 2009 compared with the previous year.

But they had been in excess of $7bn in December 2007, before the markets were battered by the global downturn.

Chief executive Stephen Couttie said: "RAB is now in a strong position to continue rebuilding the business."