Odey Special Situations Fund took on several new positions in March

Odey Asset Management’s Special Situations Fund was down 3.2% in March, compared to its benchmark, the MSCI World USD Index, which was up 3.3%. Through the end of March, the fund is up 8.7%, beating the benchmark’s return of 4.9%. Q1 2021 hedge fund letters, conferences and more Odey’s Special Situations Fund deploys arbitrage and long/ short capital around mergers and acquisitions, aiming for a double-digit 12-month rolling return. Fund management expects the strategy’s benefits to become apparent again in the next few months. Main detractors In the fund’s March letter to investors, which was reviewed by ValueWalk, Portfolio Manager…