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Hedge fund bear Odey eyes 15 pct gains from post-Brexit ructions
June 24, 2016 / 9:26 AM / a year ago

Hedge fund bear Odey eyes 15 pct gains from post-Brexit ructions

LONDON, June 24 (Reuters) - British hedge fund manager Crispin Odey said on Friday he could make gains in his flagship fund of around 15 percent from recent lows after a British vote to leave the European Union caused widespread market ructions.

Odey, who manages around $10.2 billion, said he had been around 70 percent invested in gold heading into the vote and was 100 percent net short on an adjusted basis across his portfolio.

A gain of 15 percent would recover just over half the year-to-June 3 loss flagged in performance data seen by Reuters.

“I‘m feeling a lot happier. We should be up, from the low, around 15 percent,” he told Reuters. (Reporting by Simon Jessop; editing by Carolyn Cohn)

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