Hedge fund managers bank £11bn

The world’s top 40 hedge fund managers earned an eye-watering $16.7bn (£11.1bn) in pay last year, with CQS Management boss Michael Hintze the top paid London manager, according to a study by Forbes magazine. The list shows the top five earners accounted for close to half of the total, some $7.8bn. Hintze came in at number 11 on the US-dominated list, after earning $350m for his working during 2012.