Odey Profits, Pay Fall

Jan 2 2013 | 12:12pm ET

Crispin Odey's "pretty horrible year" in 2011 doesn't look quite so bad on paper.

Odey's eponymous London-based hedge fund saw its income and profits drop in the year ended April 2012. But the former fell by only 11% and the latter by 22%: not good, certainly, but pretty good by "pretty horrible" standards.

Odey Asset Management took in £40 million in income on the fiscal year, down from £45 million. Most of that was attributed to a £6 million drop in performance fee income, which fell by more than 70% to just £2.5 million. Profit fell from £34.7 million to £27.2 million.

That means that Odey himself had to take a nearly 40% pay cut, taking home just £9.4 million compared to £15.4 million in the year-ended April 2011. Other payroll costs grew along with the firm. Its team, which is six members larger than the previous year, earned £7.58 million, up from £6.45 million.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR