Harding’s Winton Capital ups dividend on back of profit rise
WINTON Capital Management, the firm founded by hedge fund star David Harding, saw profits jump 23 per cent last year after it added $11bn (£6.9bn) to assets under management in 12 months, accounts show.
Harding, who last week publicly revealed his £34m tax bill, helped lead the firm to a £161.9m profit in 2011 compared to £131.5m in the previous year, propelled by an increase in the company’s assets under management from $17bn to $28bn.
The company was able to more than double its dividend payout to directors from £55.8m to £128.7m, according to a filing at Companies House.
Winton, which sponsors a series of high profile academic and sporting initiatives, was set up in Kensington in 1997 to act as a Commodity Trading Advisers hedge fund.
Between 31 December 2010 and 31 December 2011 the firm grew revenue from £282m to £350.6m. The accounts show the firm also halved its currency risk over the year by reducing the amount of non-sterling assets from £114m in 2010 to £64.6m in 2011.