Fund profile: Odey remains at the top despite slipping up in August
Mon Nov 14, 2011
Absolute UCITS editor Joy Dunbar speaks to James Hanbury from Odey Asset Management about his award-winning and deliberately volatile UK-focused fund
Odey Asset Management’s UCITS fund is one of the best performing funds so far this year – despite being one of the worst performing funds in August.
The institutional share class of the CF Odey UK Absolute Return Fund was down 10.94% in August - a month defined by dramatically declining equity markets as a result of fears that the European sovereign debt would spread and the downgrading of America’s triple-A credit rating.
James Hanbury from Odey Asset Management
The fund has returned more than 6% year-to-date to October 2011, and is the third best performing strategy in the Absolute UCITS database and is up more than 50% since its launch in May 2009. The fund also won the top award for Fund of the Year at the inaugural Absolute UCITS awards in June.
August 2011 was a ‘perfect storm’, according to James Hanbury, who runs the fund alongside Jamie...
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