Crispin Odey has turned cautious on the markets and closed his hedge fund to new investors after his assets under management swelled with his lucrative bet against the pound.
The Mayfair-based money manager yesterday warned that the investing environment has become “much more difficult” after it emerged that he had shuttered his main hedge fund, as well as two others, which have combined assets of more than $1 billion.
The move follows a record investment performance by Odey this year, with his primary portfolio up 193 per cent by September in a rise that was powered by his short bets on sterling and UK government bonds. These positions paid off in the market turmoil caused by the ill-fated mini-budget introduced under Liz Truss.
His firm,
© Times Newspapers Limited 2022.