Odey's flagship fund falls 20% for second time in a year

Number of big bets go wrong

Crispin Odey's European hedge fund has lost over 20% in the first weeks of March, marking the second time in the past year the fund has fallen by a fifth.

The €1bn Odey European fund is down 22% in the first two weeks of March, the Financial Times reports, after getting a number of big bets wrong. This loss follows a similarly dramatic fall in April last year, when Odey's (pictured) fund fell 19% as a result of bets on the value of the Australian dollar. These losses resulted in a -12.8% return for the Odey European fund for 2015, and this year to date the fund is already down 25.5%. This year's loss has been driven by Odey's bearish view on the Chinese economy and emerging markets, which have not worked in recent weeks. Odey warn...