 at the end of September, up from a low of €93m at the beginning of 2021, when it was burned by failed bets against shares in booming stock markets. Mr Odey, one of Britain's best known hedge fund chiefs, defended his bets against the pound in September, arguing that the historic rout in the wake of Kwasi Kwarteng's tax cuts was triggered by Remainers in the City who 'hate' the Government. At the time, he told The Telegraph: 'I never felt the kind of hate that F){kind=link}
Brexit-backing hedge fund chief bars new clients from investing following surge in assets
Crispin Odey has closed his flagship hedge fund to new clients after a successful bet against the pound ahead of the market chaos triggered by Liz Truss’s mini-Budget.
Odey Asset Management said it was no longer accepting new investors in its Odey European fund, along with two smaller ones. Existing clients can continue to add money.
The company said this was to “protect the interests of our existing investors… and to provide the best opportunities for fund performance in the future”.
Money managers often restrict inflows so their funds don’t get too big for them to quickly change positions.