Fund update | April 2016
The Odey International Fund experienced a challenging month with the Fund down 8.18%. Negative performance came predominantly from short equity holdings in the Financials, Consumer Discretionary and Energy sectors.
Growing concern about effectiveness of QE
Since the second quarter of 2014, Crispin Odey, manager of the Fund, has been warning of a faltering Chinese economy, slowing economic growth in developed markets, and a fall in commodity prices and emerging market incomes. At the heart of his message has been a concern that global central banks used all of their monetary firepower in the economic downturn of 2007-09 and now have less ammunition to deal with future negative growth shocks.
In his April commentary, Crispin discusses his concern about the effectiveness of quantitative easing and zero interest rates. Read more
View the April 2016 fund update: