Crispin Odey has closed three funds, including his flagship European fund, to new investors having chalked up record gains so far this year, according to a report by Bloomberg. Odey wants to keep assets at a manageable level after the main European fund gained 193% on the back of turmoil in the UK gilt market.
Crispin Odey has closed three funds, including his flagship European fund, to new investors having chalked up record gains so far this year, according to a report by Bloomberg. Odey wants to keep assets at a manageable level after the main European fund gained 193% on the back of turmoil in the UK gilt market.
The report cites a statement made by the company as confirming that the main Odey European hedge fund, along with the OEI MAC and Odey Swan funds, are no longer accepting new investors, although existing clients can continue to add money.
Odey’s record performance so far this in 2022 marks a reversal in fortunes for the firm following years of losses. According to an investor document, Odey European managed €402 million ($399 million) at the end of September, having managed $1.8 billion of assets at its peak in 2015, before falling to as low as €93 million in early 2021 after short bets against stocks in booming markets went awry.
