Hendry sets up European boutique

European equity desks at a number of management houses are to see fresh faces in the coming months, following changes at Schroders, Jupiter and the establishment of a boutique by Odey's Hugh Hendry. Hendry is to leave in September to set up Eclectica Asset Management and plans to launch two long-only European funds early next year. Despite leaving behind $1bn in long-only mandates at Odey, Hendry said he is not trying to compete with his former employers. "It is our intention launch a European ex UK unit trust and Pan European fund in early 2006," he said. When Hendry leaves he will b...