Odey Rails … Again: Central Banks Are Losing Control

The Odey International fund chalked up a rare positive performance during October but still managed to underperform its benchmark, according to a letter to investors reviewed by ValueWalk.

Odey International, which is managed by Crispin Odey and acts as a feeder fund for the Odey Swan Fund (which is itself modeled on Odey's flagship Odey European fund) gained 1.6% for the month of October, compared to its benchmark return (MSCI World Index) of 2.5%. Year-to-date the fund is now down 17.1% compared to the MSCI World return of 15.4%. Since inception on 29 July 2014, the fund has lost 17.1% per annum, underperforming by a staggering 26.2% per annum.

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At the end of October, Odey International remained net short...