London - Britain's top 25 richest hedge fund managers' wealth rose by 1.8 billion pounds ($2.70 billion) to 14.8 billion pounds over the past year, the Sunday Times Rich List showed.
Hedge funds typically charge 2 percent for management and take a 20 percent cut in performance generated, making hundreds of millionaires every year in the $3 trillion industry.
Alan Howard and Michael Platt, founders of Brevan Howard Asset Management and BlueCrest Capital Management, topped the sector list, each with 1.5 billion pounds. While Platt's fortune remained unchanged over the period, Howard's wealth declined by 100 million pounds, it showed.
The hedge fund list was released on Friday ahead of a 128-page special edition of the Sunday Times Magazine that each year reveals the wealth of the 1 000 richest people in Britain.
Crispin Odey and Nichola Pease of Odey Asset Management had 1.1 billion pounds and added 580 million pounds to their wealth, the most by any hedge fund manager in Britain.
In all, seven hedge fund managers, including CQS founder Michael Hintze and Winton Capital's David Harding, had wealth of 1 billion pounds or more, the list showed.
James Vernon, co-founder of Brevan Howard with 250 million pounds and Chris Rokos, the former Brevan Howard star trader with 400 million pounds, registered the biggest jump in their wealth ranking over the past year, it said.
Reuters