Sloan Robinson & Richard Chenevix-TrenchWhile Sloane did very well last year you wonder how they are doing in today's marketplace. many managers who do well one year fall on the sword the next.
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Sloane Robinson cemented its position as one of London's most successful asset managers last year as the hedge fund reported that its profits had risen by two-thirds to £340m in the 12 months to March 31, a level above far larger traditional fund managers.
In accounts filed at Companies House, the privately owned Sloane Robinson partnership said14 partners would share the profits, with the highest earner taking home £87.3m, up from £51.4m the year before.
The firm refused to say who the best-paid manager was, but investors in its funds said it was likely to be Richard Chenevix-Trench, chief investment officer. The scale of the profits demonstrates the attraction of hedge fund fees, which are very high compared with traditional asset managers. However, the profits are flattered by the lack of salaries paid to the partners, meaning they cannot be compared directly with the results of a listed company such as Schroders, which made only little more pre-tax profit in 2007, or Henderson, New Star and Aberdeen, which together made less than Sloane in their last annual profits.
The strong growth in profits for Sloane Robinson in the year to March 31 came after an excellent year in investment performance for one of the first European hedge funds, with its main funds recording bumper returns. Read more...
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Tags: Sloane Robinson, Richard Chenevix-Trench, Schroders, Henderson, New Star, Aberdeen, Asset Manager, Asset Managers, Chenevix Trench Chief Investment Officer, CIO