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Landseer in talks over transfer of flagship Odey AM fund

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Landseer Asset Management UK is in talks with Odey Asset Management over the transfer of portfolio manager Freddie Neave, who runs its flagship hedge fund, as the firm continues to deal with the fallout from multiple sexual assault allegations made against founder Crispin Odey, according to a report by Bloomberg.

The firm has been hit with an exodus of client money since the allegations – which Odey denies – were reported by the Financial Times on 8 June, with Odey AM closing certain funds and shuttering others as a result.

According to a company statement, Odey AM is now in discussions – which are subject to regulatory approval – over Landseer becoming the investment manager to a new fund managed by Neave following a proposed reconstruction of its Odey European Inc and OEI Mac funds. Both funds, which were previously co-managed by Odey, were suspended in June in the wake of surging redemption requests.

The move marks the firm’s latest steps to rehouse funds managed by portfolio managers including Adrian Courtenay, James Hanbury and Oliver Kelton as part of its restructuring.

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