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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Rab Cap. | RAB | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 9.915 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 9.915 | 9.915 |
| Top Posts |
|---|
Posted at 13/5/2021 18:01 by rj allen 1 for 100.000 share consolidation. Private investors to be included OUT. |
Posted at 11/5/2011 07:46 by edmondj Aproximate £20m annual losses to consider though; and what are/will be, current valuations on circa £40m "available for sale financial assets" now RAB is signalling itself a seller?Quite a self-reinforcing downward spiral, as redemptions (near 80% for Special Sits) affect the underlying financial strength of the operation which further reduces investors' interest in the funds. A battle for survival. |
Posted at 31/3/2011 10:44 by edmondj Surely the main part of the problem for perception is the £23m annual admin expenses (i.e. salaries etc), a substantial hurdle for a downsized hedge fund manager to overcome - to get into a value generating scenario. With the outlook uncertain (markets also the redemption aspect affecting Special Sits) it's hardly surprising there appears to be a sense there isn't much here for outside investors.Admittedly there is a net asset value of 17.4p a share but the discount probably shows the market is wary of further write-downs say among unquoted investments besides the Oxus/Mouchel hits which aren't that significant except to reputation. You'd want some confidence, RAB can become sustainably value generating, otherwise the discount to NAV could be a value trap. |
Posted at 29/1/2011 07:14 by gingerplant Thanks The_Owl - and good points re de-listing. It hadn't occurred to me as I hardly ever invest in investors as it all seems a bit opaque sometimes. Nevertheless, I think I'll buy a small quantity on Monday and forget about them for a few years. |
Posted at 28/1/2011 18:23 by the_owl I'd broadly agree with your valuation. Surplus cash and announcements that the cost-cutting exercise is complete would also play favourably to the company valuation.De-listing could happen anytime (never say never with AIM listings!). However, it would I think be a retrograde step in the event of the company doing poorly (it cannot raise equity on main markets), or if it does well (equity for prime investment opportunities would be hard to come by). Would you invest in an unregulated private company? I certainly wouldn't. A public listing provides a level of transparency/account I think its clear from last years fund performances, and the little evidence we have (e.g. re energy fund, Asia above) RAB can do well - particularly with commodity/gold/resou In time this should augur well for attracting more new investors to its better performing funds, though I accept there are bound to be a few 'rotten apple' investments along the way. In current market environment, I'd happily take 53% in return for 20% performance fee/2% management fee. Few other places to get 31% net. In time, I think they can and will re-grow AUM as they did post IPO - just will take a few years as before in my view. All IMHO |
Posted at 18/10/2010 08:53 by quepassa It will be interesting from a sectoral perspective to see if the BlueBay agreed take-over by RBC lifts RAB, as I expect it will.Certainly it will help focus investor interest on the sector and perhaps RAB's cash-rich balance-sheet will receive more attention. ALL IMO. DYOR. QP |
Posted at 29/7/2010 10:59 by xavico the Owl,I note what you say and ultimately hope the company comes back good. But in the short term, my personal view is that sentiment will drag the share price down. The fact is that the dividend has dropped significantly and the future doesnt look orange. I cannot see it worth investing if the share price hasnt reached its bottom or at least close to that point. It will take some very positive news to change investor sentiment. For the moment I am avoiding this one. |
Posted at 29/7/2010 08:24 by edmondj The_Owl,One investor who didn't get involved here at float, warned me the compensation arrangements here were simply too rich for management, the equation wasn't attractive enough for outside investors. What evidence is there, this may have improved? Obviously some other 'big picture' issues have hit the shares but I was warned this would end up a loser. Since you raise the point about the header, this seems relevant to consider if one is thinking of building a meaningful contrarian stake. |
Posted at 24/2/2010 12:07 by the_owl Auction 8 March will (IMHO) remove downward pressure from SS & other investors. Knock-on effect should be floor on RAB price as longer term solvent insti interest picks up any remaining stressed investor stakes. Not sure if any of this answers question re next move in share price though? It might as confidence may return without limiting factor of forced sales bearing down, while also adding usual performance & management fee income from larger more significant players. In theory should all augur well - we'll see. All IMHO, DYOR etc Owl |
Posted at 14/11/2008 15:38 by whiterussians By Claudia Assis Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--As Russian stocks sink deeper into the red, fund managers specializing in the country's stocks are still keeping their cool. Russia's massive natural resources and huge cash reserves should keep the economy afloat near term. But the sailing will be extremely rough. The dives in crude oil and metals prices, along with renewed concerns about state intervention in private companies, have sent Russian equities plumbing the depths. Russia's two stock exchanges shut down Wednesday following share prices plunges. The bourses reopened Thursday, but in fits and starts. The largest stock exchange, the MICEX, was reopened on the regulator's orders. The stock sales intensified following hefty central bank currency market intervention, a slightly devalued ruble, and an interest rate increase. Rather than reassuring them, the actions spooked investors further. The RTS stock index has fallen 24% this week. The country's stocks are down 19% in dollar terms this month, and down 72% so far this year, according to the MSCI Barra Russia index. Despite the losses, dedicated Russia investors are sticking to their guns, focusing mainly on companies benefitting from Russia's growing middle class. "Russia is being punished right now," but will still grow 3% to 5% next year, said John T. Connor, manager of the Third Millennium Russia Fund, which has about $100 million in mostly Russian equities. "I'm happy with the hand I'm holding now," he said. "Consumer demand is still pretty good in Russia." The economy should still grow about 7% this year. Connor's hand largely consists of domestic-oriented companies such as cell phone companies Mobile TeleSystems (MBT) and Vimpel Communications (VIP), and Russia's largest food retailer, X5 Retail Group NV (FIVE.LN). In addition to focusing on domestic-oriented stocks, managers at Los Angeles' Metzler/Payden, a $180 million fund dedicated mainly to Russian equities, have been concentrating their resources on large-capitalization companies. "(They) are less likely to run into liquidity issues," analyst Vladimir Milev said. Third Millennium's Connor returned Monday from a trip to Moscow and Ukraine's capital, Kiev. In Moscow, people didn't seem afraid for their jobs and were not in a "panic mode," he said. "I didn't get a sense it was 1998 all over again," Connor added, referring to Russia's currency crisis and debt default a decade ago. "Stocks have been punished, but it doesn't mean the economy itself will collapse." Russian authorities are moving aggressively to prevent just that. The central bank said Thursday its foreign reserves fell $9.2 billion to $475.4 billion in the week to Nov. 7, down from almost $$600 billion in early August. The government can also draw on a Reserve Fund worth an estimated $130 billion to sustain public spending now that oil prices have fallen way below the budget assumptions. "They still have quite a treasure chest there, which they can use to protect themselves," said Citi emerging Europe, Middle East and Africa analyst Andrew Howell. "But still, fear has set in." Russia has been dipping into its savings at a break-neck pace that concerns investors, but the central bank said capital outflows peaked in September and October, so the need to use reserves to support the ruble is likely to decrease significantly in the coming weeks. Perhaps, but investors also worry about the country's bloated banking sector and foreign currency debts weighing on many companies' balance sheets. Political risk remains an issue as well, which has been demonstrated by government threats against firms and their owners. Earlier this year, Prime Minister Vladimir Putin issued veiled warnings against coal and steel giant OAO Mechel (MTL), reviving fears of another Yukos - the once-giant oil company destroyed by allegations it owed back taxes. OAO Uralkali (URKA.RS), Russia's second-largest potash producer, also fell earlier this month when the government reopened a two-year old environmental case against the company, which also re-ignited investors fears over a Kremlin move against a company. To calm worries, Russian President Dmitry Medvedev said Thursday the government has no intention to nationalize companies. Despite all the negatives, redemptions from Connor's fund have been "moderate," as most of its investors understand they'll have to weather the storm, he said. Most clients of Harold Warren, head of sales trading at Russian brokerage Uralsib in New York, are sidelined, waiting for the dust to settle. "Things are quite difficult," he said, "but Russia is going to survive. It's not going to stop operating." Others agree. While energy and commodities prices have fallen hard, Russia remains a top producer by volume of oil, natural gas and metals, global consumption of which won't disappear altogether. That means Russia's commodities will continue to generate income, albeit at lower levels. The market is already pricing in much of that decline in earnings, Citi's Howell said. Valuations are now cheap - the average Russian company is trading at price-to-book ratios around seven times, versus their peak in 2006 P/E ratios stood at 16 times. The market swoons and political risk concerns may have made Russia a tougher sale, but Warren sees stabilization in the first quarter of next year. By most accounts, the country still has enough money saved and coming in to get from here to there. -By Claudia Assis, Dow Jones Newswires; 201 938 4385; claudia.assis@dowjon TALK BACK: We invite readers to send us comments on this or other financial news topics. Please email us at TalkbackAmericas@dow Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: You can use this link on the day this article is published and the following day. |
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