Odey Asset Management, Landsdowne Funds Said To Slip Through Mid-September

Sep 29 2017 | 6:55pm ET

Both Crispin Odey’s flagship European Fund and Lansdowne Partners’ Developed Markets Fund, two of the U.K’s best-known hedge funds, have reportedly faced rough waters so far this September.

Odey’s long/short equity fund, managed by Odey personally, had slipped an estimated -4.9% for the month through September 15, according to a Bloomberg article citing a performance report. The return pushed the European Fund’s year-to-date tally to -14% in U.S. dollar terms, the article continued, and erased the +4.2% booked in August. The fund logged an extraordinary -49.5% decline in 2016, according to Bloomberg data, for its worst annual showing since inception in 1992.

Other Odey funds were also under pressure for the period, the article continued. The company’s OEI Mac fund was down -5.8% at mid-month, also in U.S. dollar terms, bringing its YTD return to -15.7%. Details of both funds’ performance since September 15 were not available.

Meanwhile, Lansdowne’s main Developed Markets fund has also had a difficult September, Bloomberg reported, dipping -2.2% through September 15. The fund’s year to date performance remains healthy at +6.2%, however, following 2016’s decline of nearly -15%.

Both hedge funds are based in London. Odey, founded in 1991, managed approximately $5.8 billion as of August 31, 2017, while $19 billion Landsdowne was formed by Sir Paul Ruddock in 1998.


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