Odey's UK AR fund targets retail market with 15% annual returns

Hanbury-run Ucits III vehicle aims to target discretionary portfolio managers at the high-end of the market

Odey Asset Management is targeting annual returns of approximately 15% for its UK Absolute Return fund ahead of the vehicle's launch in early April. The Ucits III-compliant vehicle, which will feature daily liquidity and daily pricing, is awaiting FSA approval and will be aimed at high-end discretionary portfolio managers, financial advisers dealing with high-net worth clients and institutional investors. James Hanbury who joined Odey from hedge fund boutique ZA Capital in October 2008 will manage the fund using a bottom-up investment process. The portfolio is expected to launch with £2...