City Of London
Odey Shuts Natural Resources Hedge Fund Hurt by Russian Bets
- The fund lost 20% last year after marking Russia bets to zero
- Henry Steel’s fund was personally backed by Crispin Odey
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Odey Asset Management has liquidated a commodities-focused hedge fund run by portfolio manager Henry Steel and personally backed by its founder Crispin Odey.
The London-based firm has shuttered the Odey Concentrated Natural Resources Fund after the money pool suffered losses tied to its large Russian positions last year and failed to raise assets, according to a person with knowledge of the matter who asked not to be identified because the details are private.