Odey Asset Management has quietly rebranded £1.3bn worth of funds as founder Crispin Odey prepares for his next date in court later this week, Portfolio Adviser has learned.
Seven out of the hedge fund boutique’s existing 19 funds have changed their name from ‘Odey’ to ‘Brook’, referring to the new subsidiary business, Brook Asset Management, created by Odey AM last November.
The rebranding took place in February when Odey (pictured) appeared before Hendon Magistrates Court for a two-day trial over an alleged indecent assault incident that occurred in 1998.
Portfolio Adviser understands that Brook AM has not yet been given the green light from the regulator but that Odey AM has adopted Brook as a trading name in the meantime.
Funds launched as part of Odey AM’s brand new emerging markets business, spearheaded by ex-Newton Investment Management colleagues Rob Marshall-Lee and Sophia Whitbread, will also fall under the Brook AM umbrella.
See also: Odey AM swipes second EM manager from Newton for new funds business
The funds swapping ‘Odey’ for ‘Brook’
The rebranded funds are all those managed by James Hanbury and Oliver Kelton, who are both partners at Odey AM.
As such, half of the firm’s long/short strategies have shed ‘Odey’ from their name, including Hanbury’s £585.1m Absolute Return fund. Three of the pair’s long-only strategies have also rebranded, including Kelton’s £428.3m European Focus fund as well as an Irish Qualifying Investor Alternative Investment Fund (Qiaif) run by Hanbury.
Funds run by Odey himself, including his flagship European fund and long/short Swan fund, have kept the Odey moniker.
Managers Adrian Courtenay, Geoffrey Marson, Peter Martin, Tim Bond and Henry Steel have not rebranded their funds and it is unclear whether there are plans to do so.
See also: Adrian Courtenay: ‘Odey Asset Management is like a barristers’ chambers’
Odey indecent assault trial resumes this week
The fund rebrand come as co-founder Odey finds himself embroiled in an indecent assault trial which will resume this Thursday at Westminster Magistrates Court.
The millionaire hedge fund manager acknowledged propositioning a junior female banker during a two-day trial at Hendon Magistrates Court last month but denied “lunging at” and groping her in an alleged incident that occurred at his home in Chelsea in 1998.
Though the judge acknowledged inconsistencies in the evidence given by the woman he refused to throw the case out early, adjourning the trial until 11 March.
Odey announced he would be stepping back as co-chief executive from Odey AM last November leaving Timothy Pearey as the sole CEO. At the same time the firm announced it was launching Brook AM, a separate entity under the Odey umbrella.
See also: Judge refuses to throw out Crispin Odey indecent assault case
Long-only Ucits rebrand
| Original fund name | New fund name | Manager | Size |
| Odey Continental European | Brook Continental European | Oliver Kelton | £104.1m |
| Odey Developed Markets | Brook Developed Markets | James Hanbury | $112.9m (£81.3m) |
| Brook European Focus | Brook European Focus | Oliver Kelton | €499.3m (£428.3m) |
Source: Odey Asset Management; AUM as at 28/02/21 on FE Fundinfo
Long/short Ucits rebrand
| Original fund name | New fund name | Manager | Size |
| Odey Absolute Return | Brook Absolute Return | James Hanbury | £585.1m |
| Odey Absolute Return (IRL) | Brook Absolute Return (IRL) | James Hanbury | £22.4m |
| Odey Absolute Return Focus Feeder | Brook Absolute Return Focus Feeder | Oliver Kelton | £78m |
Source: Odey Asset Management; AUM as at 28/02/21 on FE Fundinfo
Irish Qiaif rebrand
| Original fund name | New fund name | Manager |
| Odey Absolute Return Focus | Brook Absolute Return Focus | James Hanbury |
