RAB IT to hold half of own fund on reopening

Almost half of RAB Capital's Special Situations investment trust will be invested in the Master fund of the same name when redemption requests are paid out in October.

RAB announced last month it anticipates 79% of investors will exit the Special Situations Master fund when it reopens after a three-year suspension. Shareholders voted in favour of a three-year lock-in back in 2008 when the fund’s performance suffered during the credit crisis due to the lack of liquidity in markets. RAB’s hedge fund investment trust has a 10% exposure to the open-ended fund, which is set to rise to 44% when the trust re-opens for subscriptions and redemptions. The trust will retain its £27.7m investment in the fund and not submit a redemption request, a spokesperso...