Fund update | July 2016
The Odey International Fund returned -4.64% for the month of July. Positive performance primarily came from the Energy and Commodities sectors, while negative performance primarily came from holdings in the Financials and Materials sectors.
Crispin Odey considers the role of gold and central banks
"There are some signs of exhaustion in the demand for gold and silver at present. The net speculative position is greater than normal and suddenly with the US posting a higher-than-expected 255,000 additional new entrants to the workforce, the markets are hopeful there will be a rate hike in September in the US and that the US dollar’s weakness might be over. Optimists are now going for a 3.8% third quarter rise in real GNP over there." Read more
July 2016 performance report