Odey Asset Management, a Mayfair-based company founded by Crispin Odey in 1992, has established a wealth management operation in Guernsey to provide investment services and advice to individual clients.
It is Odey’s first operation to be physically managed outside the UK, though the company’s hedge funds are domiciled offshore.
As part of the venture, a new Cayman Islands-domiciled, Dublin-listed multi-asset fund has been launched.
The Odey Opportunities fund aims to give private investors exposure to both Crispin Odey’s macro investment views and the asset-picking talents of two Guernsey-based fund managers who joined Odey from Credit Suisse in January, according to Odey chief executive David Stewart. Geoff Marson will manage the new fund, and Shaun le Messurier will assist him.
The fund, which is live now with about $5m invested, will trade monthly, with its first trade due in about two weeks’ time.
Stewart said the new Guernsey operation and the new fund reflected the company’s belief that up until now, “private clients haven’t always been very well served by the marketplace”.
He stressed that their fund “will be a true multi-asset fund”, with the ability to invest in other funds and hedge funds as well as in such other assets as equities, bonds, commodity futures and exchange traded funds.
“It is not going to be hedged, but will have hedge funds in it, depending on the central asset allocation theme of the day.”
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