Odey Asset Management’s flagship hedge fund, Odey European Inc., has been suspended following a surge of redemption requests.
According to an investor letter seen by Bloomberg, about 19% of the fund has been hit by withdrawal requests for its next dealing day on 3 July. The firm wrote that given the level of requested redemptions, investor concentration and liquidity profile of the fund, the fund board has decided it would not be "in the best interests of the fund and its shareholders" to continue to permit issues and redemptions of shares. Crispin Odey no longer regulated to deal directly with clients Odey AM is also considering restructuring the fund's operations, which might allow investors transfer t...
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