Odey Asset Management halts trading in fourth fund

Odey Asset Management has suspended trading in its Special Situations fund following a “sizeable level” of withdrawal requests in the wake of sexual misconduct allegations against founder Crispin Odey.

The firm said in a letter to investors that it was temporarily suspending trading in the $80mn fund to sell assets in an “orderly fashion” to meet investors’ redemption requests.

The suspension is the latest move by Odey Asset Management to contain the fallout as investors have attempted to redeem their money over the past week.

The asset manager has halted trading in three other funds — Brook Developed Markets, LF Odey Portfolio and Brook Absolute Return — and closed the Odey Swan fund.

This is a developing story