Profits at Odey Asset Management leapt almost 100% last year on the back of one of founder Crispin Odey’s best periods of performance on record. But the veteran hedge fund investor was unable to sustain momentum throughout 2019.

Pre-tax profits at Odey Asset Management rose 96% to £17m in the year that ended on 5 April 2019, according to its latest accounts filed at Companies House this week. Revenues were up more than 30% at around £40.8m thanks to a near-3,000% surge in performance-fee income over the period.