Odey Special Situations Fund Finds Bargains With 10%+ FCF Yield

Odey Asset Management's Odey Special Situations Fund returned -3.17% in February compared to its benchmark, the MSCI World USD Index's return of -2.40%.

For the year-to-date, the fund has returned +4.22% compared to the MSCI World USD Index return of +4.50%, according to a copy of its latest investor update, which Hedge Fund Alpha has been able to review.

Managed by Adrian Courtenay, the $103 million Special Situations Fund started trading in October 2019 and has achieved a compound annual growth rate of 18.3% since inception.

Q4 2022 hedge fund letters, conferences and more

At the end of February, the fund had total gross exposure of 141% spread across merger arbitrage (23.9%), high...