THE CHILDREN’S Investment Fund has seen profits from its hedge funds tumble more than 80 per cent in the last 18 months, after its investments failed to perform.
The company, run by Chris Hohn and known for its sale of a stake in bank ABN Amro to RBS shortly before its nationalisation, made pre-tax profit of £101.5m in the 18 months to February, according to papers filed at Companies House.
This compares to £556.2m in the 12 months to August 2008, displaying the hedge fund’s battering in the wake of the financial crisis.
Turnover has also slumped 80 per cent to £120.8m.
Hohn declined to comment yesterday, but the company directors said in a statement they expect market conditions to “continue to have a material impact on the income stream of the company over the following twelve months.”