Odey Asset Management has lowered the risk profile of its flagship hedge fund, Odey European Inc.
The fund was handed to fund manager Freddie Neave after Crispin Odey was ousted from the firm in June in the wake of sexual misconduct allegations against him. According to a report by Reuters, Neave said in an investor letter that he had reduced the hedge fund's investments in stocks and bonds. In June, he also sold out of the fund's gold futures and increased its amount of cash in hand in a bid to increase liquidity. The strategy's performance is down 13.6% for the year and its size declined by €28m from €284m in February 2023. James Hanbury and full investment team to move from ...
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