Odey Asset Management is weighing gating its range of UCITS funds in the wake of sexual misconduct allegations that have already seen the eponymous manager ousted from the firm, according to reports.
As a result of an FT investigation, the executive committee removed Crispin Odey as a member of the partnership on 10 June and redistributed management of his funds across the remaining team, according to an executive committee statement.
The OEI and OEI MAC funds will be managed by Freddie Neave; the LF Odey Opus fund will be managed by James Hanbury; the Odey Pan European fund will be managed by Oliver Kelton; the Odey Swan fund will be managed by Neave, but the partnership is weighing closure of the vehicle.
FCA investigating Odey Asset Management as Crispin Odey faces sexual assault allegations - reports
The statement also revealed the board is set to rebrand the company "in the near future" and has been in "regular communication" with the Financial Conduct Authority throughout the past days.
The FT has reported that two people with knowledge of discussions revealed the gatings are being considered due to potential high outflows as a result of the sexual misconduct allegations.
Morgan Stanley, Exane, Goldman Sachs, Schroders and Ruffer have already severed ties with the firm. JP Morgan has said it continues to review its relationship with the firm.
A person familiar with the bank's position told the FT: "We have to consider… [Saturday's] new info so that will be part of our review. The fact that we have prime [broking] and custody when other banks do not means we have more to consider."
