Odey Asset Management subsidiary Brook Asset Management will be closing its Brook Global Emerging Markets fund due to a “significant reduction” in assets under management.
In a letter to shareholders seen by Investment Week, the board of directors of Odey Investments, the firm's parent company, said the fund will be closed and all shares redeemed by 22 September. As of 28 July, the strategy held £26m in AUM, having lost 68% of assets to investor redemptions between 7 June and 28 July, according to Investment Week analysis. Odey AM and Brook AM to transfer significantly smaller funds as assets shrink by up to 68% The fund, run by Odey AM's subsidiary Brook Asset Management and launched in June 2021, is managed by Sophia Whitbread and Mathieu Rachmanin...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
