Seventeen partners at hedge fund Brevan Howard have shared a bumper GBP120 million payout after profits surged following a series of successful bets during the first year of the coronavirus pandemic, according to reports in The Times and The Daily Telegraph.

Founder Alan Howard took the lion's share earning over GBP55 million in the year to end March 2021, up from GBP29.9 million in the previous twelve months.

In total the firm's partners received GBP43.4 million in remuneration and shared profits of GBP79 million, up from GBP18.3 million the previous year.