Woodford Investment Management saw its profits balloon over the course of a year, as its two top bosses scooped up more than £11m.
According to the firm's annual accounts for the year ending 31 March, the firm saw profits jump 212 per cent, hitting £35.5m from the £11.4m posted at the same point last year.
Profits of more than £11m were also allocated between the firm’s founder Neil Woodford and its chief executive Craig Newman.
Of this £11m in profit, Mr Woodford took £7.2m. This compares dramatically to a year prior, when he took home £654,601.
Back in April, Woodford Investment Management scrapped bonuses for the 35 staff working at the company, with Mr Newman claiming such regimes are a “distraction”.
The figures for the last financial year, which come from a statement on Companies House published on Tuesday (20 December), show assets under management climbed to £14.4bn, from the £10.2bn reported in 2015.
Operating expenses jumped by almost a half, reaching £21.7m from £14.8m.
The company was established in 2014 by one of the most prominent names in the UK asset management industry Neil Woodford, who previously ran Invesco Perpetual’s High Income fund.
Woodford currently manages two funds, its flagship £9.3bn Equity Income offering, which has frequently been at the top of popular fund league tables, and its £733m Patient Capital trust.
In the summer, it was revealed Mr Woodford was considering the launch of a higher income fund which would not be limited to investing in UK-listed companies.
