Odey AM subsidiary to reopen first fund since suspensions
Odey AM is in discussions to transfer the fund to Lancaster Investment Management
The fund was originally suspended on 13 June 2023 and is the first fund to reopen after a plethora of suspensions.
To date, five funds have been suspended (including the BDM fund) and two are suspended while the process of closing the funds takes place: Odey Swan and LF Odey Portfolio.
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Brook AM said applications for the subscription, conversion and/or redemption of shares can be submitted and will be processed on 10 July. If investors wish to do so, the deadline for the applications will be 2pm on 7 July 2023.
Additionally, any applications submitted before the fund was suspended and were not processed will also be processed on 10 July, unless shareholders withdraw their applications.
The Brook Developed Markets fund is among five Brook AM and Odey AM funds currently under discussion to transfer to Lancaster Investment Management.
The other funds to be transferred are LF Brook Absolute Return, Brook Absolute Return (IRL), Brook Absolute Return Focus and LF Odey Opus.
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