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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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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.”<\/p>\n
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.<\/p>\n