CQS, the specialist fixed-income manager led by Sir Michael Hintze, reported rising profits and strong growth in assets under management in 2017 — and revealed its long-only, mainstream funds business has eclipsed its hedge fund assets for the first time.

The company reported profits of $160.4m on revenues of $310.8m, and said management and performance fees had increased during the year. But the figures are not directly comparable to 2016’s, as CQS has altered its reporting period.