EUROPE – Odey Asset Management has launched a pan-European Dublin-registered UCITS targeting international and offshore investors.

Explaining the decision to launch the fund, Odey AM’s chairman David Fletcher said: “Over the past few years, a number of international investors have asked us to create an offshore structure for them – hence Odey pan-European.

The fund’s investment objective is “capital appreciation through investment primarily in European securities” using the FT World Europe index as a benchmark, and will be centred around “superior performance with low absolute risk.”

Hugh Hendry will manage the fund. He is currently responsible for running the long-only European funds Odey Continental and Vitrivius, and the Odey Eclectica Fund. Prior to joining Odey in 1999, Hendry worked at Baillie Gifford and Credit Suisse.

Minimum investment in the fund is 100,000 euros.

Odey Asset Management LLP manages around 960 million dollars, and also manages Europe’s oldest equity hedge fund, Odey European Inc.

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