Camelot Capital Partners, the California-based hedge fund firm founded by William Barker, has upped its holding in fast fashion group Asos by more than 360,000 shares this month, with two stock acquisitions worth £1.25m, according to a report by the Financial Times.

Barker has served as a non-executive director of Asos since September. Prior to his formal appointment, Camelot already owned around 14% of the retailer's issued share capital with this month’s purchases taking the fund’s holding closer to 15%.

Asos's share prices has fallen by around half over the past year as the company has struggled to reduce both its debt burden and excess inventory.