A total of $600m has now been withdrawn from Odey Asset Management’s funds in the wake of multiple allegations of sexual assault and misconduct levelled against the firm’s founder Crispin Odey, according to a report by MorningStar.
A total of $600m has now been withdrawn from Odey Asset Management’s funds in the wake of multiple allegations of sexual assault and misconduct levelled against the firm’s founder Crispin Odey, according to a report by MorningStar.
Odey, who denies the allegations, was ousted from the firm in a bid to stem withdrawals after £277m was pulled during the first week following the FT’s exposé on 8 June. Investors have continued to pull cash from the firm’s funds though, and if performance is also taken into account, the Odey/Brook fund range has now shrunk by over $800m, according to the report.
The biggest loser in terms of withdrawals is Odey AM’s largest fund, Brook European Focus, which has seen £127 million in outflows since the FT’s story broke.
