Odey Asset Management has introduced a new Odey allegra developed markets fund in Ireland targeting developed market equities for James Hanbury.
The US$23.9 million (GBP18.9 million) Odey allegra developed markets fund is a long-only Ucits IV fund which is benchmarked against the MSCI world index, which covers 24 countries including the US, the UK, Japan, Canada and France.
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The fund seeks long-term capital appreciation and has a minimum investment of GBP5, 000.
According to its key investor information document, the ongoing charge is estimated to be 1.35% and sterling share class has an investment management fee of 1.2%.
The performance fee for the fund on the relative performance over and above the MSCI daily total return net world index is 20%.
The GBP555million Odey UK absolute return fund, launched in May 2009 is also run by Hanbury.
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By GlobalDataThe new fund takes Odey’s product range to 18 products, with three portfolios – the Odey naver, Odey orion and Odey swan funds,which are anticipated to launch earlier in 2013.
