Oct 27, 2017
Week in Review, October 28
Crispin Odey, one of London's best-known hedge fund figures, saw his flagship fund slashed by a string of ill-timed bearish trades and client outflows, writes Miles Johnson in London. The outspoken investor and prominent backer of Brexit has seen the assets in his Odey European fund fall from €2.5bn at the start of 2015 to €184m, according to fund documents. Total assets managed by Odey Asset Management, which include funds not run directly by Mr Odey, have fallen from $11.7bn at the start of 2015 to $6bn at the end of August. A disastrous 2016 resulted in the Odey European fund, which Mr Odey launched in 1992, losing just under 50 per cent after leveraged currency trades went awry. Mr Kengeter's resignation came only a week after his counterpart at the LSE, Xavier Rolet, announced he would retire next year.
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