Sophia Whitbread has stepped up to become the lead manager on Odey Asset Management’s emerging markets strategy following the departure of Rob Marshall-Lee.
Whitbread (pictured) joined Odey’s subsidiary fund business, Brook Asset Management, as an assistant portfolio manager last June. The move saw her reunite with former Newton Investment Management colleague Marshall-Lee, who had been poached months prior to launch Odey’s brand new emerging markets franchise.
Brook AM confirmed Marshall-Lee’s exit but declined to comment further. Marshall-Lee had been with the business for only a year, after over two decades at Newton IM.
Mathieu Rachmaninoff, who also joined from Newton IM last July, remains a portfolio manager on the Global Emerging Markets fund.
The Ireland-domiciled Ucits, which launched last June, had $150m (£113m) in assets at the end of February. Like other emerging market funds, it has endured a brutal period following Russia’s invasion of Ukraine. It has lost 16.9% over the last three months, according to Trustnet, while the average fund has fallen 12.2%.
It was one of the first strategies to launch under the Brook AM subsidiary. Ahead of Crispin Odey’s trial over an alleged indecent assault incident, seven funds rebranded from ‘Odey’ to ‘Brook,’ including partner James Hanbury’s £505m Absolute Return fund.
Odey was acquitted but stepped down as co-CEO of Odey AM.