Former Odey Asset Management Funds Top Global Performance Rankings Following Strong April Gains

Two funds that were previously managed by Odey Asset Management have posted impressive returns, earning spots among the top 10 performing hedge funds worldwide in April, according to data from Société Générale.

The Odey Absolute Return Focus Fund and the CF Odey Absolute Return Fund, both overseen by portfolio manager James Hanbury, posted gains of 16.7% and 9.61%, respectively. These outstanding results have caught the attention of investors, solidifying their positions as some of the most successful funds for the month.

In July of last year, both funds — along with three other funds managed by Hanbury and fellow manager Jamie Grimston — were transferred to Lancaster Investment Management, a London-based hedge fund. This transition occurred just before Odey Asset Management, founded by billionaire Crispin Odey in 1991, shut down in October following an investigation by the Financial Times into accusations of sexual assault and harassment against Odey from 13 women.

The funds' strong performance in April was largely attributed to the success of their short positions. Their ability to strategically capitalise on market declines helped these long/short funds outperform Hanbury's other long-only funds under Lancaster Investment Management, according to sources. Hanbury, who joined Odey Asset Management in 2008, is also known for making significant gains in 2016 by shorting the British pound after it plummeted following the Brexit referendum.