Odey Asset Management is shuttering one fund and restricting withdrawals from two others as it battles the fallout from the allegations of sexual misconduct made against founder Crispin Odey last week, according to a report by Reuters.
Odey Asset Management (OAM) is shuttering one fund and restricting withdrawals from two others as it battles the fallout from the allegations of sexual misconduct made against founder Crispin Odey last week, according to a report by Reuters.
The report cites an investor letter as revealing the closure of the Odey Swan Fund, with investors set to be redeemed by 4 September, and the suspension of withdrawals from the Brook Developed Markets Fund and the LF Brook Absolute Return Fund, vehicles managed by OAM’s Brook Asset Management subsidiary.
The moves come as JP Morgan became the last of the big banks to end its relationship with OAM, following earlier decisions by Goldman Sachs and Morgan Stanley to sever ties with the London-based hedge fund firm.
Crispin Odey, who has now departed OAM, has denied allegations of sexual assault or misconduct over a period of 25 years made against him by 13 women and reported by the Financial Times and Tortoise Media last week.
