Former Odey AM manager Freddie Lait has restructured the absolute return fund he brought with him to start-up venture Latitude Investment Management, as he believes the long/short structure is no longer suitable for the vehicle.
Originally known as Odey Atlas, the fund has now been renamed Latitude Horizon and is a long-only diversified growth product, targeting an absolute return with low volatility. Lait (pictured) previously ran the fund in this structure for three years at Odey before it became a long/short vehicle in 2014. Now running his own firm - Latitude Investment Management - he has chosen to switch it back to being long-only as he feels this is a better option for investors. Lait said: "This is a better strategy as it has lower turnover, no macro calls, lower fees and strong fundamental analys...
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