The two founders of Marshall Wace, one of the most high-profile hedge funds in Europe, have shared just under 50m (€74m) in pay and dividends in the past two years.
Ian Wace, recently named the third most influential person in the European capital markets in a poll by Financial News, earned 6.6m in pay and just under 5m in dividends in the year to August 2004.
The 11.6m is detailed in Marshall Wace Asset Management Limited accounts filed with Companies House. The figure comes on top of 8.9m in pay and 5m in dividends Wace took the previous year.
Paul Marshall, the co-founder of the business who owns 50% of the shares, is understood to have earned around 10m in pay and dividends from Marshall Wace in the year to last August, on top of 7.3m in pay and 5m in dividends the year before.
The two have earned just under 50m in the two years up to August 2004.
The rewards are the latest to emerge from the hedge fund industry. Financial News revealed last month that Jeremy Herrmann, the 35-year-old founder of Ferox Capital Management, took home 11.4m last year and more than 12m the year before.
However, the numbers at Marshall Wace reflect the longevity and continual outperformance of its funds. While performance this year has been relatively flat, with Marshall Wace's Eureka fund trading down 1.89% as of May 2 in dollar terms, it has delivered annual returns of over 18% since launch in January 1998.
Marshall Wace's funds under management have grown to an estimated 4bn, and this year it raised $1bn (€840m) for a US fund in less than a day.
In the year to August 2004, the firm earned performance fees of 23m according to the accounts, in line with the previous financial year. These were paid for the performance of Marshall Wace's funds in calendar 2003.
However, their rewards pale in comparison to the top earners in the hedge fund industry worldwide. According to the annual poll by Institutional Investor, the top earning hedge fund manager last year was Edward Lampert of ESL Investments, who earned $1.02bn. The 10th highest earner was Israel Englander of Millennium Partners with $205m - nearly 10 times what Wace earned.