Odey Special Situations Fund Outperforms In Tough Month For Equities

The Odey Special Situations Fund bucked the wider market trend in February, returning 1.89%.

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That compares to the fund's benchmark, the MSCI World USD Index, which declined 2.53% during the month.

Writing in his February market update, the fund manager of the Special Situations Fund, Adrian Courtenay, explained that its January performance figures reflected a "gradually increasing confidence" in the fund towards allocations as the year progresses.

The positioning of the fund continues to be weighted to arbitrage with the arbitrage book representing 196% of gross exposure. Total gross exposure at the end of February was around 276% with total net exposure at...