Odey European Fund Up 9.6 Percent, Expresses Concern

Odey’s Allegra European Fund has come out of the gates strong in 2014, up 9.6 percent year to date, according to an investor letter reviewed by ValueWalk. Crispin Odey’s fund, which is changing its investment minimum from €250,000 to £1000, attributed the positive performance primarily due to the retail sector, up +3.8 percent, and transports, up +1.3%. The individual best performers identified in the report were Sports Direct International Plc (LON:SPD) (+1.0%) and Ryanair Holdings plc (NASDAQ:RYAAY) (+0.7%). The worst performers were Rolls-Royce Holding PLC (LON:RR) (-0.4%) and Royal KPN NV (-0.2%). Odey’s long and short EU positions Odey’s primary…