Hedge fund bosses Alan Howard and Crispin Odey see fortunes hit amid market turbulence

Odey predicted in 2015 that the financial downturn would be so bad it would be 'remembered in 100 years'

Crispin Odey, the hedge fund manager who founder Odey Asset Management, saw his fortune fall by £200 million to £900 million (Andy Sewell)

Crispin Odey, the hedge fund manager who founder Odey Asset Management, has surrendered his place in the billionaires' club after his fortune fell by £200 million to £900 million, according to the Sunday Times Rich list.

Odey, who predicted in 2015 that the financial downturn would be so bad it would be "remembered in 100 years", had his salary halved from £31.8 million to £16 million after the profits at his hedge fund slipped from £174.2 million to £84.1 million.

A Vote Leave supporter who has donated funds towards the campaign for the UK to leave the EU, Odey's $1 million (£694 million) European Fund lost 22 per cent in the first two weeks of March alone. The Independent has contact Odey Asset Management for comment.

Meanwhile Alan Howard, the co-founder of Brevan Howard, one of the world's richest hedge funds, fell from the top of the list to fourth place on the list of the 20 richest hedge funds in the UK. A spokesman for Brevan Howard declined to comment.

Howard saw his wealth drop by £460 million to £1.04 billion because of a 1.99 per cent fall in the Brevan Master Fund, compared to a 1.26 per cent loss in similar funds on average, according to Hedge Fund Research data.

Michael Platt, the co-founder of Bluecrest, took Howard's place at the top. His wealth increased to £2.1 billion from £1.5 billion a year earlier despite some of his funds not performing as well as expected.

The top 10 hedge fund managers added over £1.4 billion to their personal fortunes, despite hedge funds losing 1.12 per cent on average in 2015, fund data seen by Reuters showed.

The richest hedge fund managers in the UK, 2016

Source: Sunday Times Rich List

2016	2015	Name	Hedge fund	Wealth	Wealth increase/decrease
rank	rank
1	1=	Michael Platt	BlueCrest Capital	£2.1bn	Up £600m
2	4	Sir Michael Hintze	CQS	£1.28bn	Up £50m
3	7	David Harding	Winton Capital	£1.15bn	Up £150m
4	1=	Alan Howard	Brevan Howard	£1.04bn	Down £460m
5	5	Crispin Odey	Odey Asset Management	£900m	Down £200m
6	8	Sir Chris Hohn	Children's Investment Fund	£720m	Up £57m
7	11=	Chris Rokos	Brevan Howard/Rokos Capital Management	£660m	Up £260m
8	18	John Armitage	Egerton Capital	£500m	Up £220m
9=	11=	Paul Marshall	Marshall Wace	£465m	Up £65m
9=	11=	Ian Wace	Marshall Wace	£465m	Up £65m
11	10	Andrew Law	Caxton Associates	£425m	No change
12	41=	William Bollinger	Egerton Capital	£400m	Up £250m
13	9	Martin Hughes	Toscafund	£370m	Down £140m
14	14=	Yan Huo	Capula Investment Management	£365m	Up £15m
15	16	Michael Cohen	Och-Ziff Capital Management	£335m	No change
16	New	Jeremy Hosking	Marathon Asset Management	£330m	New
17	14=	Sir John Beckwith	RiverCrest Capital	£302m	Down £48m
18=	20=	Jonathan Hiscock	GSA Capital	£300m	Up £50m
18=	17	Sir Paul Ruddock	Lansdowne Partners	£300m	No change
20	24	Nicolai Tangen	AKO Capital	£288m	Up 63m