Marshall Wace, one of London's most successful hedge funds, has declared profits of £192m in the year to the end of February 2024, a sharp fall of 64% compared with £538m the previous year.
Marshall Wace was founded in 1997 by Marshall and Ian Wace and manages more than $71bn (£57bn) in funds, making it one of the largest of its kind in the world.
Last year, Marshall sealed a £100m takeover of the Spectator magazine, adding to a media empire that includes backing the GB News TV channel and the UnHerd website.
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