Odey to soft-close Hanbury’s UK Absolute Return fund

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Odey Asset Management will soft-close James Hanbury’s £636m UK Absolute Return fund as of next week.

The soft closure of the fund will begin on 10 July when the initial charges will be increased to four per cent.

A spokesperson for Odey Asset Management says: “We are going to close the fund until further notice. The focus at Odey is always putting performance before and asset gathering.”

Hanbury’s fund has returned 46.8 per cent over the past 12 months and sits in the first quartile of the IMA Targeted Absolute Return sector for 2010, 2011, 2012 and the year to date.

Odey UK Absolute Return’s cumulative return to 05 July 2013

 
Fund 15.34% 21.59% 46.08% 115.90%
0.71% 2.64% 6.01% 10.46%
14.53% 18.46% 37.80% 95.45%
  1 / 66 1 / 64 1 / 63 1 / 49
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Source: FE Analytics