Odey Profits, Payouts Soar

Dec 19 2013 | 11:05am ET

Odey Asset Management's return to form paid of quite handsomely for firm founder Crispin Odey and his partners.

The London-based hedge fund's profits doubled in the 12 months ending in April, so Odey gave himself a better than 50% raise. After paying himself just £9.4 million following a "pretty horrible" fiscal 2011, Odey took home £14.2 million in the last one, just shy of the £15.4 million he earned in fiscal 2010.

The other 17 members of the Odey partnership split the remaining £40.8 million, itself 50% higher than the entire profit pool in the previous year.

Odey said its profits jumped from £27.2 million to £55 million, with turnover nearly doubling from £40 million to £72.7 million.

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