Odey Asset Management closes Odyssey fund

Tim Bond to remain

Odey Asset Management has closed the Odey Odyssey fund because of its size, Investment Week has learned.

The fund, which was $65m at the end of March, has been unable to accept new investments since 5 October and is due to be closed on 1 November, a letter seen by Investment Week said.   In the letter the asset management company said it made the decision based on the fund's size and the cost associated with maintaining it.  Sector launches and closures: Global equity fund launches surge while UK funds dwindle Odey estimates the costs of the closure will be 0.10% which will be borne by the fund and has waived its investment management fee over the closure period.   Tim Bond, th...