Odey in Talks with Lancaster Investment to Rehouse Hanbury Funds
Odey Asset Management LLP, a London-based hedge fund, is in talks with Lancaster Investment Management LLP to rehouse its Hanbury funds. The move comes as Odey seeks to reduce its reliance on the Hanbury funds, which have been underperforming in recent years.
Background of Odey Asset Management
Odey Asset Management is a London-based hedge fund founded in 1991 by Crispin Odey. The firm manages a range of funds, including the Hanbury funds, which are focused on European equities. Odey has been managing the Hanbury funds since 2003 and has seen mixed results over the years.
Hanbury Funds Underperforming
The Hanbury funds have been underperforming in recent years, with the flagship fund, the Hanbury European Equity Fund, losing 8.3% in the first quarter of 2023. This has led to Odey seeking to reduce its reliance on the Hanbury funds.
Odey in Talks with Lancaster Investment
In an effort to reduce its reliance on the Hanbury funds, Odey is in talks with Lancaster Investment Management LLP to rehouse the funds. Lancaster Investment is a London-based asset management firm that specializes in European equities. The firm has a strong track record of managing European equity funds and is seen as a good fit for Odey’s Hanbury funds.
Benefits of Rehousing Hanbury Funds
Rehousing the Hanbury funds with Lancaster Investment could provide a number of benefits for Odey. Firstly, it would allow Odey to reduce its reliance on the Hanbury funds, which have been underperforming in recent years. Secondly, it would give Odey access to Lancaster Investment’s expertise in managing European equity funds. Finally, it would give Odey access to Lancaster Investment’s extensive network of investors, which could help to boost the performance of the Hanbury funds.
Odey’s Future Plans
Odey is also looking to expand its range of funds in the future. The firm is currently in the process of launching a new fund, the Odey European Equity Fund, which will focus on European equities. The fund is expected to launch in the third quarter of 2023 and will be managed by Odey’s experienced team of portfolio managers.
Conclusion
Odey Asset Management is in talks with Lancaster Investment Management to rehouse its Hanbury funds. The move is part of Odey’s efforts to reduce its reliance on the Hanbury funds, which have been underperforming in recent years. Rehousing the funds with Lancaster Investment could provide a number of benefits for Odey, including access to Lancaster Investment’s expertise in managing European equity funds and its extensive network of investors. Odey is also looking to expand its range of funds in the future, with the launch of the Odey European Equity Fund expected in the third quarter of 2023.