Odey AM subsidiary to shutter Brook Global Emerging Markets fund

Due to dwindling assets

Odey Asset Management subsidiary Brook Asset Management will be closing its Brook Global Emerging Markets fund due to a “significant reduction” in assets under management.

In a letter to shareholders seen by Investment Week, the board of directors of Odey Investments, the firm's parent company, said the fund will be closed and all shares redeemed by 22 September. As of 28 July, the strategy held £26m in AUM, having lost 68% of assets to investor redemptions between 7 June and 28 July, according to Investment Week analysis. Odey AM and Brook AM to transfer significantly smaller funds as assets shrink by up to 68% The fund, run by Odey AM's subsidiary Brook Asset Management and launched in June 2021, is managed by Sophia Whitbread and Mathieu Rachmanin...