Tuesday, 30 June 2015
Last updated 12 hours ago
May 14 2013 | 11:20am ET
Big losses led to a big pay cut for Clive Capital's top managers—but they are unlikely to win any sympathy.
The London-based commodities hedge fund, which lost 8.8% last year, paid its three partners a total of US$39.2 million in the year-ended in February, according to regulatory filings. The trio received more than twice as much in the year ended February 2012, splitting US$82.5 million.
Clive's highest-paid partner—presumably founder and lead manager Christian Levett—was paid US$33.5 million down from US$60.8 million in the year-earlier period, and down from US$135 million in the 11 months prior to that.
Clive also disclosed that it paid its 11 staffers $3.5 million during the fiscal year and gave US$553,000 to charity.
After two losing years and a series of redemptions that cut US$600 million from its asset base, Clive announced fee reductions earlier this year.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…