The Children's Investment Fund Management, a London hedge fund manager that last year ousted Deutsche Börse's chairman and chief executive, recorded £66.8m (€96.2m) of income in 2005, its first full year of operation.

The firm's fee income rose from £4m for the year ended 31 August 2004, according to accounts just filed at Companies House. The increase is understood to arise from performance fees, which are charged in arrears. TCI began investment operations in 2004, so that year's accounts recorded only management fees.