Tuesday, 24 November 2015
Last updated 22 min ago
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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…