Global equity fund Odey Opus has been significantly downgraded by Tilney Bestinvest for “erratic” performance.
The fund previously held a four-star rating, but has been downgraded to one star.
The investment provider recommends the Fundsmith Equity and Artemis Global Income funds instead for global equity exposure.
“Crispin Odey is undoubtedly a talented manager, but the performance of this fund has been erratic and returns tend to be lumpy, both on the upside and downside,” says research analyst Tom White on the decision.
“Despite Odey, you need to have a strong stomach to hold this fund and we have higher conviction in other funds from the same sector.”
The fund has returned 4.8 per cent over the last year and 9.6 pre cent over a three-year period, FE data says.
Over the same period, Fundsmith has returned 33.5 per cent and 79.7 per cent respectively. The Artemis Global Income fund has returned 18.9 per cent and 41 per cent over the one-year and three-year period.
Odey, a vocal supporter of Brexit, this week told investors in a letter that the UK could be headed for a recession that would see some stock prices fall up to 80 per cent.