Odey Investments has launched an unconstrained global fund for portfolio manager Markus Rezny, who joined the company last year from Griffin Capital Management.
The Dublin-domiciled Odey Orion fund, which started trading this week and is Ucits structured, will invest globally across a diverse range of asset classes to achieve long-term capital growth. It is able to take long or short positions to achieve its aims.
Rezny is not tied to a particular benchmark and can hold equities, equity-related securities such as warrants and convertible bonds, government and corporate debt, collective investment schemes including exchange traded funds, commodities, currencies and cash in the portfolio.
Odey says the fund is suitable for investors looking for long-term capital appreciation and willing to accept high market volatility and risk.
The fund’s base currency is the euro and it also has sterling and dollar share classes. The minimum investment for retail investors is €1,000.
The asset manager estimates annual ongoing charges will be 1.75 per cent, with a 20 per cent performance fee.
Bestinvest business development and communications managing director Jason Hollands says: “Markus Rezny is not well-known to the UK retail market but he had a good run with Griffin European Opportunities, so it will be one to watch.”