The FCA has declined to touch upon studies within the Monetary Instances that Odey Asset Administration is below investigation.
In keeping with the FT, Odey AM has been below investigation for 2 years over various points, together with accusations that founder Crispin Odey behaved inappropriately in direction of 13 girls over a 25 yr interval.
Mr Odey was discovered not responsible of indecent assault in 2021 in relation to an incident alleged to have taken place in 1998.
Right this moment the FCA mentioned it will not touch upon the story, nonetheless Odey Asset Administration has issued a press release from CEO Peter Martin “in response to articles printed within the FT.”
Mr Martin mentioned the agency didn’t recognise the image of the agency portrayed by the FT.
The FT has reported that the FCA is investigating Odey AM over non-financial misconduct and governance points.
Mr Martin mentioned within the assertion, launched yesterday: “We’re responding as Senior Administration on behalf of Odey Asset Administration LLP (OAM) to the articles printed within the Monetary Instances at this time regarding Mr Crispin Odey and OAM.
“For authorized causes we can not remark intimately on the varied allegations that are being regarded into by our legal professionals.
“Nevertheless, OAM treats, now and previously, all such allegations extraordinarily severely. OAM has sturdy insurance policies and procedures in place to make sure that the agency always complies with all of its authorized and regulatory obligations. Employees wellbeing is central to the tradition of OAM’s enterprise. We don’t recognise the image of the agency that has been painted by the Monetary Instances.
“Along with guaranteeing the wellbeing of all members of employees, OAM’s precedence is safeguarding the pursuits of shoppers of the agency and our buyers. We’ve no considerations concerning the returns which have been generated for shoppers of the agency and buyers (each thus far and going ahead).
“We’re conscious of press protection regarding actions allegedly being taken by prime brokers and different service suppliers to OAM. Whereas we can not remark intimately, once more for authorized causes, we’re in lively discussions with all service suppliers and we’re assured that our service suppliers will proceed to work with us to make sure that the pursuits of buyers are protected.”
Mr Odey has been one of many highest profile fund managers within the UK and a daily speaker at conferences. He based Odey AM, a hedge fund supervisor, in 1991. He has been a distinguished donor to political events and causes together with Brexit and the Conservative Social gathering.