Profits at Crispin Odey’s hedge fund business halved during the company's last financial year ended 5 April, 2022, on the back of a sharp drop in performance fees, according to a report by Financial News.

Profits at Crispin Odey’s hedge fund business halved during the company's last financial year ended 5 April, 2022, on the back of a sharp drop in performance fees, according to a report by Financial News.

The report cites accounts filed at Companies House as revealing that profits slumped to £18.8 million from a bumper £39.7 million a year earlier.

The distribution of profits among the firm's partners, who numbered 17 on average over the past year, has not been disclosed, although the partner with the largest entitlement took home £5 million.

Typically the highest-paid partner would be Odey himself although last year's biggest earner at was James Hanbury who was paid £15.6 million as the firm's top performing fund manager.