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Hedge fund giant's profit pool slides by £94m

Hedge fund giant's profit pool slides by £94m

The rewards divided between partners of hedge fund firm Capula Investment Management dropped by £90 million last year, after profits tumbled at the Mayfair-based firm. 

According to numbers filed at Companies House, Capula, which specialises in fixed income and has billions in assets under management, saw profits fall to £118.3 million in the 12 months to the end of March 2018, from £212.2 million in the previous year.

Turnover fell from £312.4 million to £226.4 million. 

The smaller profit pool was shared between 23 partners.

The member with the largest entitlement, likely to be founder Yan Huo, took home £36.4 million, a big fall from the £72 million handed out in the previous 12 months.  

Capula, which also has bases in Greenwich, Hong Kong, Jersey and Tokyo, manages a range of absolute return, enhanced fixed income, volatility and tail risk strategies.

Huo founded Capula in 2005, having previously led JP Morgan's fixed income trading team. He established the business alongside former UFJ trader Masoa Asia.

In 2012, the private equity Petershill fund run out of Goldman Sachs bought a 20% stake in the business. 

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