Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Odey Wealth makes top fund Ucits compliant

Odey Wealth makes top fund Ucits compliant

Odey Wealth has switched its £266 million CF Odey Portfolio fund to a Ucits structure.

It was formerly a non-Ucits retail scheme (Nurs), meaning it could not be promoted across the European Union.

The old structure did, though, enable the multi-asset fund to invest in a broader range of instruments, including unquoted securities.

But in exchange for giving up this flexibility, which the fund was not in any case using, Odey expects the move to make Portfolio more accessible to investors and also cheaper to run.

‘We would like to point out that we will make no investment changes to the fund and expect a reduction in the ongoing charges of the fund as it will become part of a larger Ucits umbrella structure, sitting alongside the other Odey UK long-only Ucits sub-funds,’ explained manager Peter Martin (pictured).

Martin, AA-rated by Citywire, has generated a return of 39.3% for the fund over the past three years. This compares with 24.9% from the FTSE Apcims Balanced Portfolio index, 13.7% from the ARC Balanced Asset index, and 20.4% from the IMA Mixed Investment 40-85% Shares sector for the same period.

Martin’s joint top holding with Google is the long/short Odey Giano fund, managed by Michele Ragazzi.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Nick Hayes: finding good bonds in negative yield world

Nick Hayes: finding good bonds in negative yield world

Why do some bonds offer 'negative yields' and how do you avoid them? Nick Hayes of AXA Investment Managers explains.

Play Neil Gregson: gold is prettiest in ugly contest

Neil Gregson: gold is prettiest in ugly contest

The JP Morgan Natural Resource fund manager talks about the prospects for gold with plenty of uncertainty in the global economy.

Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Gutteridge and Foster discuss UK commercial property with Jason Baggaley, manager of the Standard Life Property Income investment trust

Your Business: Cover Star Club

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Growing a business is the main aim of many company owners but managing that growth in a controlled way is just as important

Wealth Manager on Twitter