Profits and income fell at Odey Asset Management last year as the high-profile hedge fund firm counted the cost of mediocre performance in 2017.

According to annual accounts for Odey Asset Management LLP, filed on December 27 at Companies House, profit available for discretionary division among members fell from £17.8m for the year ended 5 April 2017 to £8.6m a year later, a drop of 51.1%.