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Now even Crispin Odey & Co is suffering a slump: Veteran hedge fun boss and colleagues share £19m in wealth management fund profits
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Breakdown: veteran hedge fund boss Crispin Odey
Veteran hedge fund boss Crispin Odey and more than a dozen colleagues will share £19 million in the profits of his asset management fund.
But the pot – for the year to April 5, 2022 – is less than half of the previous year’s £40 million. Odey Asset Management did not say what caused the slump.
But the accounts showed revenue from the UK, its largest market in a long time, more than halved to £18m. In the US, it fell 58 percent to £12.4 million.
Odey has a reputation for capitalizing on market turmoil.
The 64-year-old magnate is reportedly one of the biggest beneficiaries of the bond crisis triggered last September by Liz Truss and Kwasi Kwarteng’s disastrous mini-Budget.
The highest paid director at Odey Asset Management received more than £5 million in the year to April, but it was not said whether that was Odey himself.