Odey Asset Management has said it is in "advanced talks" to transfer its five global equity funds to Lancaster Investment Management.
Michael Ede, COO and CFO at Odey AM, said in an investor letter seen by International Investment's sister brand Investment Week that fund manager James Hanbury would also transfer to the investment management company under the deal.
LF Odey Portfolio fund to be wound up
The funds in question are the LF Brook Absolute Return, Brook Absolute Return (IRL), Brook Developed Markets, Brook Absolute Return Focus, and LF Odey Opus.
The LF Brook Absolute Return and Brook Developed Markets funds were among the first funds to be suspended following the FT investigation into decades of alleged sexual misconduct against founder Crispin Odey.
Ede added the discussions are subject to board, authorised corporate director and regulatory approvals, and that "similar discussions are ongoing in relation to other funds managed by [Odey AM] and we will provide further updates about all funds in due course".
Last week, Odey AM also announced it was in advanced talks to transfer its European equity funds to boutique SW Mitchell Capital.
