Odey European Inc - July 2008

Odey Asset Management was set up in 1991 with a focus on active management and a concentration on the investment result rather than adhering to any particular investment style.

Odey uses directional managers and manages the fund’s exposure according to its market views.

The way the fund manages money was borne out of Odey’s experiences in 1994 when the flagship fund had an annual drawdown of 43%. That year the fund suffered massive redemptions but also learnt some painful lessons about position size, liquidity and the importance of not letting intellectual ideas dominate the risk management/trading process.

The mandate allows for a maximum leverage of 350% for equity