Members of closing Odey Asset Management fund to share nearly £64m

The partners of Odey Asset Management, which is winding up after its founder, Crispin Odey, was accused of misconduct, are to share nearly £64million for its final year of operations.

Companies House accounts published this week revealed the profit being shared by 11 members had grown from £18. million in the year to the end of April 2022 to £63.9million the following year.

While this will be split between the members, it will not be divided evenly. One unnamed member will be entitled to £28.6million.

Hedge fund manager Crispin Odey pictured in 2021

The firm spent £17.6million paying its 29 members of staff during the period, the accounts reveal.

The accounts also show that Odey Asset Management funds under management grew to £3.5billion by 5 April 2023, up from £3billion by the same point the previous year.

The firm was launched in 1991 and had become one of the more successful hedge fund managers in London.

In 2021, Odey was found not guilty in a court case which accused him of indecent assault that allegedly happened in 1998.

But in June 2023, the Financial Times and Tortoise Media said they had spoken to 13 women who alleged they were abused or harassed by the fund manager. The alleged incidents are reported to have occurred between 1998 and 2021.

Odey has denied all the allegations against him.

The Financial Conduct Authority is currently investigating Odey to see if he is ‘fit and proper’ to work in financial services.

Last year, Odey was removed from the firm that he had established and it was decided that the fund would be broken up.

At its peak, Odey Asset Management had £11billion assets under management.