It has not been a great year for employees at hedge fund firm Odey Asset Management.
The Telegraph reported that London-based Odey Asset paid its employees a total of nearly $65 million in the 12 months ended in April, an $8 million decrease from the previous year. The article said that the drop is largely due to a tumultuous 2011, causing the firm’s performance fee to decrease $9.7 million to just $4 million.
Odey Asset’s profit for the year fell to $43 million from $56 million, which was split between the firm’s 15 partners. Founder Crispin Odey received the largest share with $15 million, down from $25 million the year before.
Founded in 1991, Odey Asset has approximately $6.6 billion in AuM.