Odey hires duo for new global launch

Odey Asset Management has recruited Simon Todd and Michael Nickson from US group MFS to run a new long-only global equity fund.

The duo, who ran more than $20bn at MFS, will manage a new unconstrained global equity long-only fund - the Odey Global Allegra. The fund will not be seeded, but Odey anticipates it will have between £50m and £100m at launch judging by early interest. It says it could eventually cap the fund when it reaches around £1bn. The new fund will be part of the group's Dublin-based Allegra range, which includes the Allegra European, managed by Feras Al-Chalabi, and the Allegra International, managed by Crispin Odey. Todd says: "We share common values and goals and feel our investment style ...