Odey to shift weight to retail and mass affluent markets

Odey Capital Management is to focus more heavily on the retail and mass affluent marketplace, according to chief executive David Stewart.

The news comes as the 19-year old firm announced it is shutting its third hedge fund in less than two years. Stewart says Odey is still committed to hedge funds, but selling regulated products via intermediaries and discretionary wealth managers will play a more important role in its business in the future. He says: “We concentrate on the discretionary manager market and private customers.” Odey launched a wealth management operation under Geoff Marson and Shaun le Messurier in 2008 to advise wealthy individuals on their investments. Stewart says: “People characterise us as a he...