Odey Asset Management's Crispin Odey is favouring US financials and tech stocks across his portfolios, with mega-cap investment banks among his top picks.
According to an SEC filing covering US holdings across the company's portfolios at the end of the fourth quarter, Odey Asset Management's top three positions in the region were retail bank Wells Fargo, and investment banks Citigroup and JPMorgan Chase. As at the end of December 2011, it held a $304m stake in Wells Fargo, $111m in Citigroup, and $74m in JPMorgan Chase. Financials saw their valuations hit last year by the fallout from the eurozone debt crisis, but Odey’s firm's positioning may have worked so far this year, with Citigroup up an impressive 23% year to date, while JPMorgan...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
