Odey Asset Management is set to bolster its long/short equity fund range with the launch of a new strategy.
The Ucits-compliant fund is currently awaiting regulatory approval but is scheduled to be launched over the next couple of months.
Al-Chalabi will have the potential to take long/short positions across the European equity market. This is likely to have some crossover with Al-Chalabi’s UK-domiciled CF Odey Continental European fund.
This proposed launch would mark the firm's second venture into long/short equity funds over the course of 2013.after it unveiled a Ucits-compliant version of boutique owner Crispin Odey’s Swan fund earlier this year.
The Odey Allegra European EUR fund has returned 50.71% over the three years to the end of September 2013. This compares to a rise of 32.1% by its Citywire benchmark, the MSCI Europe TR EUR, over the same period.