Hedge fund owned by Crispin Odey plunges to a fourth annual loss in five years
Crispin Odey’s Odey European Inc long/short fund lost 10.1 per cent in 2019
The hedge fund owned by controversial billionaire Crispin Odey has plunged to a fourth annual loss in five years.
The Odey European Inc long/short fund lost 10.1 per cent in 2019, adding to losses between 2015 and 2017.
The only winning year was 2018, when it jumped 53 per cent.
Those who backed him five years ago have lost over half their investment, according to Bloomberg.
By contrast an investor who placed £10,000 in a FTSE 250 tracker would now have £13,600.
Overall profits at his company, Odey Asset Managerment, rose from £8.8million to £17.1million.
It awarded a dividend of £1.1million, and the top director, believed to be Odey, took a pay packet of £187,000.
Odey was presented as the unacceptable face of capitalism by Jeremy Corbyn during the general election campaign.
The Brexit-supporting financier, once the son-in-law of Rupert Murdoch, drew controversy for betting against the pound on the day of the 2016 EU referendum.
He made £220million in a day as the pound slumped, although he later lost money as markets rallied. The pound has since rallied, and was yesterday worth $1.31.