Sunday, 30 April 2017
Last updated 1 day ago
Mar 9 2011 | 12:36pm ET
On the back of strong inflows, Odey Asset Management is mulling a new hedge fund launch.
The London-based firm has taken in US$190 million in new money during the first two months of the year, even though it is "not marketing its funds aggressively," CEO David Stewart told HFMWeek. The inflow for January and February alone amounts to about one-third of the firm's total inflow last year and has it on pace to raise more than the US$1 billion it took in the previous year.
Most of the inflows went to Odey's biggest funds, Odey European, Odey European Macro and a UCITS III-compliant version of the European flagship, Stewart said.
The CEO, who said he is primarily focused on Odey's new wealth management business, added that the firm is on the lookout for new managers who might launch new funds at the firm. Stewart said he has investigated three such potential managers this year.
"Any new hire needs to fit in with the Odey way of running money," he said. "We're not looking for a product for the sake of it."