Odey Asset Administration to shut

Odey Asset Administration is within the strategy of winding down, an announcement on the corporate’s web site states.

Odey Asset Administration, together with Brook Asset Administration and Odey Wealth, can be closing. Fund Managers and Funds have moved to new Asset Managers.

There are transient notices for each enterprise that kinds a part of Odey Asset Administration. As an example:

“Odey Wealth Administration UK Ltd is within the strategy of winding down. Investor funds are being returned and/or transferred as mentioned together with your Funding Director. Employees stay to wind down the enterprise and ensure traders are sorted”.

Odey founder and controlling shareholder Crispin Odey was faraway from his personal firm by Odey’s govt committee, following a Monetary Instances report that 13 girls had accused Odey of sexual misconduct over a 25 yr interval.

In June 2023, retail FX and CFDs dealer Plus500 (LON:PLUS) introduced that the corporate has bought 7,327,605 of its personal shares from Odey Asset Administration LLP. The shares characterize roughly 8.2% of Plus500’s issued share capital (excluding shares already held in treasury).