Profits at Cantab Capital Partners halved last year, as the hedge fund set up by former Goldman Sachs quantitative technology head Ewan Kirk saw its flagship fund suffer heavy losses.

Profits fell to £25.1 million in the 12 months to the end of March this year, from £52.6 million the previous year, according to documents filed with Companies House this week. Revenues at the global macro hedge fund fell from £88.9 million to £38.8 million over the period.