Odey Takes In US$190M In Jan., Feb.

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."


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR