Fund manager 'earns $90 million'

A London-based hedge fund manager is weathering the credit crunch - and has scooped a $90 million paycheck.

The anonymous City worker, who is one of the three managers at London Diversified Fund Management, drew the payment from the firm's pot of $150 million - for which just 24 people qualify.

London Diversified specialises in bond market investment, and was set up in 2002 by partner-managers Rob Standing, David Gorton and Mark Corbett.

The previous financial year, the top check drawn by a manager at the firm was worth just over $40 million.

It was also revealed that London Diversified profits have fallen by 30.9 per cent for the year to August 2007, totalling around $144 million.

The payout information for the hedge fund was contained in its submission of annual accounts to the UK's Companies House website.

London Diversified declined to comment.