Odey Asset Management fund manager snags £15m annual payout
A hedge fund manager at Odey Asset Management has snagged the biggest annual payout this year – reportedly beating its prominent founder.
James Hanbury, who manages the firm’s largest fund the Odey Absolute Return, took home an eyewatering £15.6m, according to account filings.
The hefty payout follows the asset manager enjoying a profit jump of more than £30m – soaring to £39.7m in the 12 months the April 5 from £8.3m a year prior, the Times first reported.
The London firm divides its profits among its members, but it is assumed that founder Crispin Odey – who started the firm around three decades ago – would lap up the largest share.
Hanbury joined the asset manager in 2008 after working as an equity analyst at Schroders, and later being poached by Schroders’ colleague Zafar Ahmadullah after founding equity hedge fund ZA Capital.
The manager, whose father Joss Hanbury is reportedly a friend of Prince Charles, reportedly won £110m back in 2016 by betting against the pound ahead of Britain’s vote to leave the European Union.
Hanbury guessed that Britain would vote Leave, and the value of sterling would plummet as a result.