Odey AM suspends flagship hedge fund as redemption requests hit 19%

Investor concentration and liquidity profile

Valeria Martinez
clock • 1 min read

Odey Asset Management’s flagship hedge fund, Odey European Inc., has been suspended following a surge of redemption requests.

According to an investor letter seen by Bloomberg, about 19% of the fund has been hit by withdrawal requests for its next dealing day on 3 July.  The firm wrote that given the level of requested redemptions, investor concentration and liquidity profile of the fund, the fund board has decided it would not be "in the best interests of the fund and its shareholders" to continue to permit issues and redemptions of shares. Crispin Odey no longer regulated to deal directly with clients Odey AM is also considering restructuring the fund's operations, which might allow investors transfer t...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Funds

Schroders to adopt Sustainability Focus label for Global Sustainable Value Equity fund

Schroders to adopt Sustainability Focus label for Global Sustainable Value Equity fund

Update to prospectus early next year

Cristian Angeloni
clock 13 November 2024 • 1 min read
FundCalibre adds Regnan Sustainable Water and Waste to 'Elite Rating' suite

FundCalibre adds Regnan Sustainable Water and Waste to 'Elite Rating' suite

Two other funds added to watchlist

Linus Uhlig
clock 13 November 2024 • 2 min read
Baillie Gifford Japanese fund added to Hargreaves Lansdown Wealth Shortlist

Baillie Gifford Japanese fund added to Hargreaves Lansdown Wealth Shortlist

Despite recent underperformance

Linus Uhlig
clock 13 November 2024 • 2 min read
Trustpilot