Odey Asset Management saw profits fall to £18.8m in the year to 5 April 2022, compared to £39.7m a year earlier.
In accounts filed at Companies House, the asset manager revealed that a sharp drop in performance fees, falling from £39.8m to £15.7m. Management fees continued to rise however, from £16.9m to £20.3m.
Assets under management have still continued to rise for the firm, up to $3.8bn in the previous year, from $3.6bn a year earlier.
The asset manager saw its income from both the UK and US more than half, with the former falling from £37.6m to £18.4m and the latter falling to £2.2m. Income from Europe and the Cayman Islands both increased slightly.
Although not reflected in this data, Odey's financial prospects improved later in the year after betting big against the UK economy following Liz Truss' Mini Budget.
The firm shorted UK gilts and the pound, leading the firm's macro hedge fund to soar 152% last year, according an investor document seen earlier this year by Bloomberg.
