Odey Asset Management has proposed restructuring the Odey European Inc and OEI MAC funds, according to two letters to investors seen by Investment Week.
Both funds were suspended on 23 June, as shareholders were told the Odey AM board was looking at how they could be best served going forward, including via a potential restructure of the two funds' operations. In the two letters, Odey AM said it is proposing the creation of two new Cayman Islands-domiciled funds where the current funds would be switched to. The new funds would still be managed by current fund manager Freddie Neave with a similar investment objective and strategy. Odey AM 'in talks' to transfer global equity funds to Lancaster Investment Management As part of the...
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