Thames River Profits Fall

Sep 10 2010 | 12:49pm ET

In its last earnings report as an independent firm, Thames River Capital had bad news for investors but good news for its partners.

The firm, which was acquired by F&C Asset Management this month, said its profit fell by more than 40% to £20.5 million in the year-ended June 30. Assets under management rose from US$5.3 billion to US$5.5 billion, but that wasn’t enough to make up for the firm’s underperforming hedge funds.

Still, the firm’s 25 members enjoyed a handsome final payout before entering the F&C fold. Partners split £25.9 million—more than the firm made during the fiscal year. Still, that was a sizeable pay cut from the previous year, when 19 partners split £41.1 million.


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