This is Money – Hedge fund managers of RAB Capital are set for another bumper payday as the quoted group shrugged off several months of poor performance to book profits of more than £25m, up 43% on the previous year.
The profit boom is set to trigger a £25 million bonus payout for RAB’s traders and cement the reputation of founder Philip Richards as the best-paid chief executive outside of the FTSE 100.
Richards, one of the highest-profile traders in the notoriously shadowy world of hedge funds – specialist funds with aggressive trading strategies aimed at making money even when markets are falling – said RAB had come through despite ‘difficult months’ in April, May and October.
