Thames River Capital has failed to meet performance targets set as part of a management incentive plan formed when the firm was acquired by F&C Asset Management, and is not expected to meet future goals, the firm said in its latest results.

As part of the 2010 deal, F&C agreed to pay Thames River managers up to £35m over six years if the firm met certain earnings before interest, taxes, depreciation and amortisation targets, but those goals have not been met to date, according to documents filed with Companies House that reiterated statements made in October by F&C.