A subsidiary of Odey Asset Administration has stopped buyers from withdrawing cash from the Brook Developed Markets fund within the wake of sexual misconduct allegations in opposition to Crispin Odey.
The board overseeing the Brook Developed Markets fund stated in a letter to shoppers that it was gating redemptions following the next quantity of requests from buyers to withdraw.
The fund is run by James Hanbury and Jamie Grimstone.
The letter stated the choice was taken after redemption requests exceeded 10 per cent of the fund’s web asset worth.
It added that the board believes the block on redemptions “is in the perfect pursuits of all shareholders”.
The transfer comes after the Monetary Occasions reported that Odey, who based Odey Asset Administration, was dealing with allegations of sexual assault or harassment from 13 ladies, which he denies.