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Search resuls for: "OEI Mac"


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June 30 (Reuters) - Odey Asset Management (OAM) has proposed to restructure two of its key funds, according to letters to investors reviewed by Reuters, as part of efforts to extract founder Crispin Odey from the business after several assault and harassment allegations surfaced against him. The London-based investment firm is planning to switch shareholders' investments in the OEI Mac and Odey European funds to two new funds, which would then be rehoused under a new firm, the letter added. Freddie Neave, who took over managing OEI Mac and Odey European from Crispin Odey three weeks ago, would run the new funds and leave to work at the new firm. "It is expected that Crispin Odey would not switch to the new fund and would remain in the existing fund," OAM said in both letters. The firm the alternative to this proposal would be to compulsorily redeem investors in the funds.
Persons: Crispin Odey, Freddie Neave, OEI, James Hanbury, Odey, Carolina Mandl, Juby Babu, Shweta Agarwal, Nick Zieminski Organizations: Odey, Management, Reuters, OEI Mac, Lancaster Investment Management, Financial Times, Tortoise Media, Thomson Locations: London, New York, Bengaluru
LONDON, June 11 (Reuters) - Odey Asset Management Partnership has started its replacement plan for Crispin Odey after severing "personal and economic involvement" with the founder, following allegations of sexual misconduct, said a letter seen by Reuters on Sunday. Freddie Neave will take over full responsibility of the Odey European Inc (OEI) and OEI Mac funds. James Hanbury will assume leadership of the LP Odey Opus Fund and Oliver Kelton will take the Odey Pan European Fund. Odey Swan Fund will be taken on by Neave as an interim leader before a final fund manager is decided upon by the board, said the letter. The Financial Times and Tortoise, in a joint publication on Thursday, reported allegations by 13 women that Odey had sexually assaulted or harassed them over a 25-year period.
Persons: Crispin Odey, Freddie Neave, James Hanbury, Oliver Kelton, Neave, Odey, Nell Mackenzie, Marguerita Choy Organizations: Odey, Reuters, Sunday, Pan European, Financial Times, Thomson
A majority of the 10 global asset and hedge fund managers surveyed by Reuters said commodities are undervalued and should thrive as global inflation stays elevated in 2023. Preqin said just 915 hedge funds were launched in 2022, the lowest in 10 years. "It's the perfect environment for macro hedge funds: central bank policy divergence, interest rate differentials, geopolitical tension, bottlenecks and each country on its own. Macro hedge funds led the industry performance through November, according to financial data firm HFR, up roughly 8%. Lyons is keen to allot more to macro hedge funds and also thinks there are good opportunities in corporate credit.
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