Odey Asset Management fund manager Adrian Courtenay is seeking to have the suspension lifted from his fund in order to allow clients to exit or invest into his strategy, a signal he’s confident that his fund will ultimately survive the current turmoil.
(Bloomberg) — Odey Asset Management fund manager Adrian Courtenay is seeking to have the suspension lifted from his fund in order to allow clients to exit or invest into his strategy, a signal he’s confident that his fund will ultimately survive the current turmoil.
Courtenay, whose Odey Special Situations Fund is in the process of being transfered to Green Ash Partners, has asked the vehicle’s board to reconsider its June 15 decision to suspend it following investors withdrawals in the wake of fresh allegations against the firm’s founder Crispin Odey, according to people with knowledge of the matter.
A decision could be taken by the board as early as today and Courtenay expects the fund’s assets to settle at between $20 million and $40 million, the person said, asking not to be identified because the details are private. Courtenay’s strategy, which is seeking a name change, had $83 million at the end of May.
A spokesman for the London-based investment firm declined to comment.
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