Odey Asset Management has lifted the suspension of a fund managed by James Hanbury, signaling its growing confidence that the outflows at the investment firm can be managed.
Dealing in the Brook Developed Markets Fund will resume on July 7, the London-based firm said in a letter to investors seen by Bloomberg. The suspension had been in force since June 13 following withdrawal requests in the wake of new assault allegations against founder Crispin Odey.
The firm is already in the process of transfering funds run by Hanbury to Lancaster Investment Management. Adrian Courtenay, another portfolio manager at Odey, is also seeking to have the suspension lifted from his fund in order to allow clients to exit or invest into his strategy, Bloomberg reported earlier Tuesday.
A spokesman for Odey Asset Management confirmed the contents of the letter but declined to comment further.
