Crispin Odey sees big gains as bearish positions begin to pay off

Up 19.9% this year

Crispin Odey has been one of the best performing hedge fund managers so far this year aided by bearish bets on government debt and equities.

According to the Financial Times, his flagship €173m Odey European fund has returned 19.9% in 2018 as a return to volatility has driven government bond yields in the UK and Japan higher. In April, it was reported Odey had built up a short position against UK government debt that is now worth 154.8% of his flagship fund and has also shorted Japanese government bonds equivalent to 43.6% of his fund. In his latest letter to clients, he claimed the protectionist policies being implemented by US President Trump would exacerbate his claims that loose monetary policy will result in a dramati...