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Theleme Partners, the hedge fund where the former prime minister Rishi Sunak was a founding partner, has suffered a sharp drop in performance fees, resulting in annual profits halving.
Profit fell to £32m in the year to 31 March from £64.7m the year before, according to accounts filed with Companies House. Performance fees declined to £14.9m from £45.9m, while management fees fell to £322.9m from £24.7m.
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