Odey Asset Management LLP has launched the Odey Investments plc UCITS umbrella, domiciled in Ireland. The Odey Odyssey Fund, managed by Tim Bond and with USD82.3 million of assets, is one of the first UCITS funds to be authorised by the Central Bank of Ireland under the UCITS IV directive.
Another sub-fund under the umbrella, the Odey Giano European Fund, managed by Michele Regazzi, has also just been launched, with EUR12.6 million of assets.
Building on its existing relationship with Capita in the UK, Odey has appointed Capita Financial Administrators (Ireland) Ltd to provide daily dealing fund accounting, administration and transfer agency services to the umbrella fund.
Paul Nunan, managing director of Capita Financial Administrators (Ireland) Ltd, says: “We look forward to working with Odey and providing a quality service to them and their investors. Our current and extensive client portfolio in Ireland reflects our expertise in the market as well as showcasing our successful approach to building strong client relationships for the long term. "
Tim Pearey, chief financial officer at Odey, says: “Having reviewed a number of providers, we chose Capita for their well regarded reputation in the industry for providing an excellent service.”
Capita’s fund services business in Ireland was established in 2006. It has built a client focused operating model, encompassing a comprehensive range of fund structures and asset classes. Having gained an excellent reputation for assisting new managers throughout the set-up and launch process, Capita is now one of the fastest growing fund administration businesses in Ireland and late last year announced the creation of 60 jobs over the next three years.
