The LF Book Absolute Return Fund, overseen by Brook Asset Management under the Odey umbrella, returned -5.6% for the third quarter, bringing its year-to-date return to -9%. In what turned out to be a wild quarter for the financial markets, the MSCI TR Net World Index was up 2% in sterling and down 6.19% in U.S. dollars. A Wild Environment With A Frustrating Performance In their third-quarter letter to investors, which was obtained by ValueWalk, James Hanbury and Jamie Grimston noted that the third quarter brought a significant increase in interest rate expectations while 30-year fixed-rate mortgage rates reached levels…
This Odey Fund Is Long On Commodities Stocks And Short On Logistics Properties [Exclusive]
Michelle deBoer-Jones
Michelle deBoer-Jones is editor-in-chief of Hedge Fund Alpha. She also writes comparative analyses of stocks for TipRanks and runs Providence Writing Services. Previously, she was a television news producer for eight years, producing the morning news programs for NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spending a short time at the CBS affiliate in Huntsville.