Harding’s Winton Capital ups dividend on back of profit rise

Michael Bow
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WINTON Capital Management, the firm founded by hedge fund star David Harding, saw profits jump 23 per cent last year after it added $11bn (£6.9bn) to assets under management in 12 months, accounts show.

Harding, who last week publicly revealed his £34m tax bill, helped lead the firm to a £161.9m profit in 2011 compared to £131.5m in the previous year, propelled by an increase in the company’s assets under management from $17bn to $28bn.

The company was able to more than double its dividend payout to directors from £55.8m to £128.7m, according to a filing at Companies House.

Winton, which sponsors a series of high profile academic and sporting initiatives, was set up in Kensington in 1997 to act as a Commodity Trading Advisers hedge fund.

Between 31 December 2010 and 31 December 2011 the firm grew revenue from £282m to £350.6m. The accounts show the firm also halved its currency risk over the year by reducing the amount of non-sterling assets from £114m in 2010 to £64.6m in 2011.