Odey warns of 2016 headwinds

Firm 'cannot be immune'

Hedge fund manager Crispin Odey has warned of a number of threats to the global economy this year, after profits halved at his firm for the year to April 2015.

According to data from Companies House, Odey Asset Management reported a profit of £84m in the year to April 2015, with Odey taking home £31m. This is significantly down on the £174m profit recorded the previous year, according to the Telegraph.  The profit fall was attributed to a sharp drop in performance fees, as issues such as the Greek crisis and instability in the Russian currency weighed on returns. Odey UK sales head Sandler exits Speaking to the Telegraph, Odey said: "It was more difficult. China's problems were starting to be felt globally but Europe was on the mend witho...