Odey Asset Management to wind down the business
'Odey Asset Management, including Brook Asset Management and Odey Wealth, will be closing. Fund managers and funds have moved to new asset managers,' Odey AM said on its website.
The move follows the closure and/or rehousing of its funds alongside their respective managers as well as the winding down of its former subsidiaries Brook Asset Management and Odey Wealth Management UK and Channel Islands.
On its website, the company stated: «Odey Asset Management, including Brook Asset Management and Odey Wealth, will be closing. Fund managers and funds have moved to new asset managers.»
Brook Asset Management begins wind-up process
In terms of moves and closures, the Brook Global Emerging Markets fund, managed by Sophia Whitbread and Mathieu Rachmaninoff, and the LF Odey Portfolio fund, managed by Peter Martin, have closed. No update was provided as to where the three fund managers will be moving.
James Hanbury and Jamie Grimston have moved to Lancaster Investment Management alongside their funds — the LF Brook Absoluter Return, Brook Absolute Return IRL, Brook Developed Markets, Brook Absolute Return Focus and LF Odey Opus.
Oliver Kenton and his funds — the Brook European Focus, LF Brook Continental European, Brook European Focus Absolute Return, and Odey Pan European — have moved to SW Mitchell Capital.
Freddie Neave and the company's flagship hedge funds — the Odey European Inc and OEI Mac — have transferred to Bainbridge Partners; while Geoffrey Marson and the Odey Opportunity fund have moved to Canaccord Genuity in Guernsey.
Odey Wealth Management to be shut down
Lastly, Adrian Courtenay and the Odey Special Situations fund have been transferred to Green Ash Partners.
Most of the transferred funds have changed names
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