Bestinvest says
This fund plays to the house strengths, in that the manager is prepared to back his convictions - based on the house macro economic (global trends) / thematic views as well as backing his favourite stocks, which are rigourously researched. Capital preservation is also important and as such, historically an aggressive use of cash and other low risk asset classes have been used to defend returns during bear market phases. A useful fund to sit alongside a more core approach to Europe.
The investment process is guided by a strong macro economic (global trends) framework. This is influenced throughout Odey by their monthly investment meeting, which generally has a strong contrarian view of the world and influences on financial markets.
The manager will seek to exploit opportunities (i.e. attractively valued stocks) through either thematic plays based on house macro themes or special situations which are individual companies that appear to be attractive in their own right. Research is industry driven and areas are divided up amongst Odey's team of analysts. Generally their time is targeted with only cursory maintenance work in areas where there is perceived to be little potential to adding value, i.e. main stream sectors or fashionable areas of the market.
The analysts are seen to add 'legitimacy' to the contrarian view and the manager will also use technical analysis to aid market timing.