Odey's Special Situations Fund declined 3.1% for April, bringing its year-to-date performance to -0.16%. The fund's benchmark, the MSCI World USD Index, was down 8.31% for April, bringing its return for the first four months of the year to -13.03%. Odey's Special Situations Fund has recorded a 29.8% compounded annual growth rate since its inception in October 2019.
The Importance Of Macro Factors
The fund aims to protect wealth when the market declines, and its April and first-quarter performances demonstrate the success of its strategy. However, in his April letter to investors, which was obtained by ValueWalk, Adrian Courtenay also noted that macro factors have become more dominant impacts during the early months of this year.
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