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Odey takes over pan-European fund

Hugh Hendry is to be replaced as manager of the pan European fund at Odey Asset Management by Crispin Odey, the groups chief investment officer.

He will also be replaced as manager of the Odey continental European portfolio by Feras Al-Chalabi, but will continue to manage the Eclectica hedge fund.

Hendry is understood to be interested in setting up his own hedge firm in due course, and is in discussions with Odey about whether he will continue to manage Eclectica in future as part of a joint venture deal.

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