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Tags: Crispin Odey | Lansdowne | hedge fund | markets

Odey, Lansdowne Hedge Funds See Declines in September

Odey, Lansdowne Hedge Funds See Declines in September
(Dreamstime)

Thursday, 28 September 2017 11:18 AM EDT

Crispin Odey’s European long-short equity fund deepened its losses for the year after shedding an estimated 4.9 percent this month through Sept. 15, according to a performance document seen by Bloomberg News.

The Odey European fund, which is overseen by the hedge-fund manager himself in London, declined 14 percent this year through Sept. 15 in its U.S. dollar share class, the document showed. This follows the fund’s 49.5 percent slump last year, its worst annual decline since it started trading in 1992.

The firm’s OEI Mac fund fell an estimated 5.8 percent this month through Sept. 15 in its U.S. dollar share class, bringing the fund’s loss to 15.7 percent in 2017, according to the document. A spokesman for London-based Odey Asset Management LLP declined to comment.

Odey is known for his bearish bets and criticism of central-bank policies. Last month, he said he was shorting metal stocks in anticipation of slowing economic growth in China. He also maintained that the credit cycle fueled by loose monetary policy has peaked as the Federal Reserve’s Janet Yellen embarks on a path of tightening.

Lansdowne Partners LP also posted a loss so far in September in its main hedge fund, which has about $9 billion in assets. The Lansdowne Developed Markets Fund fell 2.2 percent in the first 15 days of the month, according to a person familiar with the matter.

Despite the decline, the long-short equity fund is still up 6.2 percent this year through Sept. 15, said the person who requested anonymity because the figures are not yet finalized. Last year, the fund fell almost 15 percent, its first loss in five years.

A spokesman for London-based Lansdowne declined to comment.

Equity hedge funds gained 7.5 percent this year through Aug. 31, while hedge funds on average rose 5.1 percent, according to Eurekahedge. The funds that bet on and against stocks lag the 12 percent return of the S&P 500 Index this year through Sept. 15. The Stoxx Europe 600 Index rose 5 percent in that time.

© Copyright 2024 Bloomberg News. All rights reserved.


StreetTalk
Crispin Odey's European long-short equity fund deepened its losses for the year after shedding an estimated 4.9 percent this month through Sept. 15, according to a performance document seen by Bloomberg News.
Crispin Odey, Lansdowne, hedge fund, markets
337
2017-18-28
Thursday, 28 September 2017 11:18 AM
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