OAM, which declined to comment, will send out further correspondence about how the Odey European Inc fund will be restructured, the letter said. OAM reorganised many of its funds in June and Neave took over the flagship Odey European Inc fund, amid fears of an investor exodus following the allegations. Since then, Neave has reduced the size of the hedge fund's investments in stocks, bonds and, in June, sold out of its gold futures. The fund closed out its direct exposure to gold futures, the letter said. Odey European Inc has kept some exposure to commodities through long positions related to the crude and palm oil company stocks, the letter said.

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Persons: Freddie Neave, Crispin Odey's, Crispin Odey, Odey, Neave, Leopalace, Nell Mackenzie, Amanda Cooper, Alexander Smith Organizations: Reuters, Odey Asset Management, Financial Times, Tortoise Media, Inc, United Rentals, Learning Technologies, Jadestone Energy, Thomson