Crispin Odey, founding partner of hedge fund firm Odey Asset Management, will take the helm of a newly-launched fund aiming to protect against inflation as he steps down from running the business after three decades.
And now, the bad news, which you could probably intuit from the above:
The manager, who heads up a further six funds including LF Odey Opus, Odey European Inc and Odey Swan, said he wants to "focus entirely on running his funds" rather than managing the wider business.
So Odey will stop doing one thing he’s not very good at in favor of another thing he’s not very good at. We’re sure investors are reassured. And maybe also asking about the management team behind these rebranded funds.
Odey AM has created a new range of funds entitled ‘Brook', which will initially comprise of a number of renamed existing funds over the coming weeks. Subject to regulatory approval, the new entity will be called Brook Asset Management and will be part of the Odey Group.