Crispin Odey has managed Odey Asset Management, one of London's most famous hedge funds, since 1991.
Odey Asset Management insisted on this. is not considering blocking investors from withdrawing money from any of its funds, a spokesperson confirmed following allegations of assault on its founder, Crispin Odie.
EU funds managed by Odey Asset Management have been reported to be considering imposing restrictions to stop investors withdrawing their money.
However, a spokesman for the London money manager said: “All funds are open as usual today and we are not considering closing any funds. The only fund we are looking at is Odey Swan.”
The company, which managed $4.8bn (£3.8bn) in assets as of September last year, announced about the new fund managers that Mr. Odie manages.
Lead hedge fund Odey Asset Management will be managed by co-manager Freddy Neave as part of the shake-up. James Hanbury and Oliver Kelton will take over the reins of other funds.
This comes as the partnership looks to further distance itself from Mr Odie after announcing on Saturday that he is leaving following a series of misconduct allegations. He denies the accusations.
The Financial Times previously reported that the company is considering limiting investor withdrawals due to fears of a sharp increase in their withdrawals in the coming days.
The boards of directors of some of its EU-based investment funds, called Ucits, were reported by the newspaper to be considering so-called caps to avoid foreclosures.
Last Thursday, the FT and Tortoise Media exposed several allegations of sexual harassment and misconduct. actions by women who either worked for the firm or had a social or professional relationship with Mr. Odie.
The allegations involve 13 women who allege Mr. Odie abused or harassed them, with eight of the 13 alleging he sexually assaulted them.
The report prompted the Financial Conduct Authority to expand its investigation into the asset manager .
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Some of the management company's key banks and brokers have decided to renegotiate or cut their ties with the group.
Odey Asset Management said late Sunday evening, ahead of the stock market opening in Monday that Mr. Neave will take full responsibility for hedge funds Odey European Inc (OEI) and OEI Mac.
James Hanbury will now manage the Odey Opus Fund and Oliver Kelton will take over responsibility for the pan-European Odey Fund.
The company said it is considering options for the Odey Swan Fund to be submitted to the Fund's Board, which “may include an option to close the fund.”
In the meantime, the fund will continue to be managed by Mr. Neave.
After announcing Mr. Audie’s departure on Saturday, the asset manager said he “ will no longer have any economic or personal involvement in the partnership.”
A statement signed by CEO Peter Martin and Chief Financial Officer Michael Ede said the firm was investigating allegations against Mr. Odie, but “cannot comment in detail as she is legally bound by confidentiality.”
The alleged incidents occurred between 1998 and 2021, the FT said after interviewing 40 former employees of Odey Asset Management.
< p> In a statement to the FT, Mr. Oday called the claims “nonsense”.
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