First, the good news: the company is no longer run by an accused sexual assailant and licensed racist.
Crispin Odey, founding partner of the hedge fund company Odey Asset Management, will take over the helm of a newly launched fund designed to protect against inflation when it goes out of business after three decades.
And now the bad news that you could probably understand intuitively from above:
The manager, who runs another six funds, including LF Odey Opus, Odey European Inc and Odey Swan, said he wanted to “focus entirely on managing his funds” rather than managing the entire business.
So Odey will stop doing one thing that he’s not very good at in favor of another thing that he’s not very good at. We are sure that investors will have peace of mind. And maybe ask about the management team behind these renamed funds.
Odey AM has created a new series of funds called “Brook” which will initially consist of a series of renamed existing funds in the coming weeks. Subject to regulatory approval, the new company will be called Brook Asset Management and will be part of the Odey Group.
Odey AM launches a new fund for Crispin when the founder steps down from the helm of the company [Investment Week]