Reuters- Investment boutique Thames River Capital, which runs more than $10 billion (5 billion pounds) in assets, reported a 23 percent increase in annual profits, helped by rising markets up untilMarch.
Thames River, which runs hedge funds and traditional portfolios investing in property, equities and fixed income, made a pretax profit of 30 million pounds in the year to end-March, up from 24.4 million a year ago, according to a regulatory filing seen by Reuters.
Turnover rose 24 percent to 57.3 million pounds. The firm distributed incentives of 16.4 million pounds, up from 12.2 million pounds, to its staff in addition to basic salaries.
No one at Thames River could be immediately reached for comment. In a recent interview, however, Chief Operating Officer Jeremy Charles said: “I wouldn’t deny that as an organisation we’re doing very well.”
Hedge funds typically charge a lucrative annual management fee of 2 percent and a performance fee of 20 percent, well above fees on traditional funds.
