London, 25 March 2020
After more than 20 years since it was founded, Rubicon Fund Management has decided to repay investors in its remaining funds and to close its business. This is a direct result of the impact of the global Coronavirus pandemic.
Despite a performance in the Rubicon Dynamic Fund which has shielded investors from a significant part of the recent market disruption, the current, and potentially protracted environment, is such that it will be extremely difficult to raise additional capital to sustainable levels and develop further the business in the foreseeable future. It is for this reason that management has decided to close the business.
Paul Brewer, Founding Partner, commented: “This decision is accompanied by very mixed emotions. It has been an extremely eventful and rewarding time through which we have flourished amidst some remarkable dislocation events since starting out in November 1999.”
“I would like to take this opportunity to thank all our investors, colleagues, counterparts and service providers for their support through the inevitable undulations of this rather exceptional epoch in history. The day to day interaction with the markets and colleagues is something that will be greatly missed, although I will no doubt relish the time to explore other opportunities.”