The RAB Capital Funds was reported to have been hit by a wave of redemption before the deadline for withdrawals, which the fund has said it expected and had enough liquid assets to pay out investors.
Investors are said to get their money on the 1st of October, when emergency restrictions put in place are lifted.

Also, after these payments to investors, RAB’s $3 billion fund will be less than $100 million.

RAB’s co-founder Philip Richards, according to reports, is a major participant in London's hedge fund scene during the boom. An investment he made in Northern Rock, after the Bank of England announced it would support Northern Rock made him a reluctant poster boy for the credit crunch.

Moreover, Mr. Richards expressed mistakes on their own part in the run-up to the crisis, as the fund lost 8% stake, when the bank was nationalized. Also, before this downturn of events, it was reported that, the fund made billions for its investors before by riding the commodities boom and investing in mining start-ups.

Its success made millions for Mr. Richards, a former army officer and an evangelical Christian, who is said to have donated almost half his earnings for Christian causes. RAB now suffers losses from the global recession, which made investors reluctant and uncertain about making risky bets, and led to a temporary cut in the demand for commodities. In the future, the Special Situations Fund intends to invest in listed natural resources companies, instead of taking one-way bets.