Odey to launch UCITS version of flagship fund in March

Odey Asset Management has confirmed the launch of a UCITS version of Crispin Odey’s flagship hedge fund strategy.

The Odey Swan fund, a daily dealing UCITS IV fund, will launch on 11 March and replicate the long/short strategy Odey (pictured) has employed on his European fund since 1992.

The fund aims to achieve “strong absolute and relative returns” over the long-term, in keeping with the offshore strategy which has produced compound annual gross returns of 13.4% since inception.

Investment Week revealed last month that the group had decided to go ahead with the plans, which mark the first time UCITS investors have been able to access a long/short strategy run by Odey himself.

The Swan fund will be a “risk-seeking, developed markets long/short strategy”, Odey AM said in a note to clients this morning.

The “research-intensive” strategy will leverage Odey’s macro and fundamental research teams, with an offer period running between 4-8 March.

The institutional share class will have a 1% AMC, with the retail share class AMC at 1.5%. A performance fee will also be levied.

Key stock picks in Odey European over the past year include Barclays, BSkyB and fellow hedge fund manager Man Group. The latter has endured a torrid time over the past two years due to the struggles of its ‘black box’ strategy, AHL, but Odey is backing a revival in the group’s fortunes.

 

This article was first published on Investment Week

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