Bedlam Asset Management, the maverick fund manager that promised investors they would not have to pay a fee if it failed to perform, is introducing a flat-rate charge for clients.
The group reported a loss of £209,000 (€303,050) in 2004, reduced from £842,000 the year before. However, Bedlam edged into the black in the second half of the year. Its profit of £29,000 for the six-month period will allow founder Jonathan Compton to be paid a salary of £7,500 this year â the first wages he has received as chairman.
