Odey Asset Management's Flagship European Fund Said To Drop -9.8% In July

Aug 10 2017 | 6:49pm ET

Crispin Odey’s flagship long/short equities fund reportedly lost -9.8% in July, its sharpest monthly decline since March of 2016.

The Odey European Fund, which is managed by Odey personally, is now down -12.2% for the year to date through July 31, according to a Bloomberg article. The July return ranks as the second-worst monthly performance after an extraordinary 22.4% decline posted in March of last year, the article said, which laid the groundwork for the fund’s whopping 49.5% decline for 2016 – easily the fund’s worst annual performance since inception in 1992. 

Odey’s well-known bearish calls have been thumped this year as equity markets continue to plumb record territory. He strongly backed Britain’s Brexit movement in mid-2016, and the European fund reportedly jumped more than 15% in one day following the June vote. 

Odey, who was once briefly married to Rupert Murdoch’s daughter, launched Odey Asset Management in 1991. The London-based firm manages approximately $5.9 billion as of July 31, 2017, down sharply from more than $11 billion at the end of 2015.

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