Odey nets £48m payday as profits surge

Hedge fund manager Crispin Odey netted a pay packet of £47.8m in the year to April 2014 after his boutique more than trebled profits.

Odey Asset Management's profits rose from £55m to £174.1m in the 2013/14 financial year, according to its own accounts. The rise was driven by a near-quadrupling in performance fee income over the period, up from around £37m in the year to 5 April 2013 to over £143 million in the year to 5 April 2014. Management fees, meanwhile, rose 48% from £36m to £53.3m. Net cash inflow from operating activities leapt from £55m to £200.9m over the same period. While Odey (pictured) was not identified in the company's accounts, the £47.8m figure was attributed to the "member with the largest ...