London – Odey Asset Management, the hedge fund firm set up by high-profile manager Crispin Odey, plans to launch a range of new funds and hopes to capitalise on growing demand from pension schemes, its chief executive told Reuters.
David Stewart said that the group, which manages $4.25 billion (2.15 billion pounds) in assets, hopes to launch a European hedge fund. This will sit alongside the existing $550 million Odey European fund, run by Odey himself, but have less invested outside Europe.
The new fund will either be run by Feras Al-Chalabi, who took on the 308 million-pound Odey Continental European fund after top-performing manager Hugh Hendry left in 2005 to set up his own firm, Eclectica Asset Management, or by a new manager.
