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Hedge trimmed from the top down

Odey Asset Management has introduced the Odey Latham global fund, an

offshore Oeic that uses hedging techniques.

The fund aims to provide high returns with low volatility whatever the

conditions of the stockmarket by applying long and short hedging techniques

to stock selection. Fund manager Mark Latham goes short by selling stocks

he thinks are overvalued and long by buying stocks when their price has


Latham joined Odey in February 2001. He previously managed the digital age

hedge fund at Digital Capital. Between 1987 and 2000, he managed global

equity, resource and US funds for Barings, including the global resource

and world opportunity funds.

At Odey, Latham will have a universe of 17,000 stocks to choose from,

covering different countries and sectors. He will take a top-down approach

to narrow the stocks down to a small number of his best ideas. The stocks

are analysed on turnover, management and ownership.

The fund could suit high-net-worth investors who can take an adventurous

path if they are not satisfied with more conventional funds.

But this fund is riskier than a fund of hedge funds that uses different

management styles as it is restricted to one strategy and one manager.


TMT and Euro funds top the league over 15 years

TMT and European funds have been the best perfor-mers over the last 15years despite being among this year&#39s worst performers. Figures published by Autif this week reveal that £1,000 invested inthe average TMT fund 15 years ago would now be worth £7,498 while£1,000 inv-ested 12 months ago would now be worth £450. A £1,000 sum […]

IFAs challenge Sandler to meet them for talks

IFAs across the UK have invited Ron Sandler to meet them face to face todiscuss how they do business before prejudging the industry any further aspart of his Treasury-backed review of the retail savings market. In an open letter this week in Money Marketing, 14 leading IFAs urgeSandler to contact them to talk about the […]

Sir Brian Stewart to chair Standard Life

Scottish & Newcastle chairman Sir Brian Stewart is to become the new chairman of mutual life office Standard Life.Stewart, 55, will replace the current chairman John Trott who is expected to announce his retirement at Standard&#39s annual meeting next April.Known as a strong defender of mutuality, Stewart is expected to resist any further attempts to […]

Moore&#39s code

The City is rather a woeful place to be at the moment. Not a week goes bywithout yet another company issuing that most frowned on of Stock Exchangeannouncements – a profit warning. Quite the opposite situation prevails in the financial services industry,however. Boring old banks and insurance companies have become the toast ofthe City by […]

International jurisdictions

By Neil Jones, Canada Life Investing through international providers has grown in popularity over recent years as investors seek out the benefits of gross roll-up and the wider range of investment options that can be available. When considering a recommendation for a lump sum investment, not only does the adviser have to select a suitable tax wrapper […]


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