The world's largest listed hedge fund, the Man Group, has posted a 60 per cent rise in annual profits today.
Chief executive Peter Clarke told the Reuters news agency that the company's results were down to the performance of its AHL future business, which with no exposure to equities is well-suited to being successful in the current volatile market conditions.
"Diversification and low correlation is a key to surviving these markets," Mr Clarke said.
The hedge fund saw pre-tax profits of over $2.08 billion (£1.05 billion) for the year ending on March 31st.
The increase in profits was driven by a 161 per cent increase in net performance-fee income, Reuters reports.
Today's end-of-year results indicated that funds under management rose 21 percent to $74.6 billion (£37.8 billion).
In the first two months of this financial year, to the end of May, the figure is estimated to stand at $78.5 billion (£39.79 billion).
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