Flagship Odey fund enjoys turnaround in February

Strong monthly performance

Crispin Odey's €173m hedge fund Odey European Inc has seen returns of 7% in the past month, its best performance since September 2015.

The recent returns mean year-to-date performance is 9.3%, a change in fortune for Odey after the fund lost 13.6% over the last 12 months. Over three years, it has lost 61.2%.  February's returns mark the best performance by the fund since September 2015 when it returned 7.6% over the month.  The fund then lost money in 18 of the 29 months to February 2018 with the worst month being March 2016, with losses of 22%. Odey is known for his bearish positioning on the long/short fund which has caused the fund to underperform in the bull run over the last nine years. However, he is beli...