Aspect Profit Quintuples As Assets Rise, High-Water Mark Breached

Aspect Capital rode increased interest in managed futures funds last year to a more than fivefold increase in its annual profit.

The London-based quantitative hedge fund said its pre-tax profits last year were £7.8 million, Financial News reports, up from £1.4 million in 2009. Revenue also soared, from £42.1 million to £55.8 million, as assets under management jumped US$700 million to US$4.3 billion. Assets have grown another US$1.5 billion this year.

The increase in fee income was attributable to Aspect's return to its high-water mark at the end of last year, making the firm able to charge performance fees once again.