Odey AM assets more than halve to $5.5bn

Hurt by bearish positioning

Bearish positioning by hedge fund manager Crispin Odey has caused assets at his firm to plunge from $11.7bn at the start of 2015 to $5.5bn.

According to the Financial Times, the firm has been hit by founder Crispin Odey's positioning on the company's fund range. He is fearful of various factors including the UK heading into a recession, high asset price valuations and central bank bond-buying.  However, these positions have failed to pay off yet, prompting investor outflows. Assets on the flagship European Inc fund have fallen from €2.5bn at the start of 2015 to €178m, according to the FT, while total assets managed by the firm have dropped from $11.7bn to $5.5bn over the period. Odey: Stockmarket could fall 80% as ...