LF Odey Portfolio fund to be wound up

Second Odey AM fund to close

Link Fund Solutions has commenced the process of winding up the LF Odey Portfolio fund, it said in an investor letter seen by Investment Week.

LFS, which is the authorised corporate director of the fund, said that after careful consideration and with agreement from BNY Mellon as depositary of the company, it will not reopen the fund and will terminate it "as soon as practicable". Cash will be returned to shareholders at the earliest opportunity, it added. Platforms under FCA scrutiny over Odey AM funds offering - reports LFS explained the decision to suspend the fund on 15 June was taken to "protect shareholders" following high redemption requests, which would have impacted Odey Asset Management's ability to manage the fu...