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Odey to launch European long/short equity fund

Odey to launch European long/short equity fund

Odey Asset Management is set to bolster its long/short equity fund range with the launch of a new strategy.

The Odey European Absolute Return fund is set to be overseen by Citywire A-rated manager Feras Al-Chalabi (pictured), who currently runs the Odey Allegra European fund.

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.

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Crispin Odey
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51/81 in Alternative UCITS - Long/Short Equity (Performance over 1 year) Average Total Return: -1.17%
Feras Al-Chalabi
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58/85 in Equity - Europe Excluding UK (Performance over 3 years) Average Total Return: 41.54%
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