Odey Swan I GBP

  • 5056.63p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • -
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 1.00%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 1.50%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 0.00%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 29 May 2020

A daily dealt UCITS version of Crispin Odey’s flagship European Hedge Fund which was has been running since the start of 2008. Whilst the mandate enables the portfolio to invest across currency, bond and equity markets the focus is expected to be on long – short equity.

Fund summary

Sector
Structure OFFSHORE FUND
Launched March, 2013
Size £246m
Yield 0.00%
Charging basis
Dividends paid

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.00%
Ongoing charges figure 1.50%

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Investment process

Manager research

Average monthly relative returns

  • 15/16 -0.75%
  • 16/17 -1.27%
  • 17/18 0.34%
  • 18/19 -1.20%
  • 19/20 -0.35%

Bestinvest MRI

  • 3 years -0.40%
  • 5 years -0.65%
  • Career 0.15%
  • 3 years 27.80%
  • 5 years 5.50%
  • Career 90.80%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Crispin Odey

Crispin Odey heads the investment management team at Odey Asset Management, a company he founded in 1991. He previously worked at Barings where he managed the Baring European Growth Trust and was the Director responsible for Continental European pension fund money. Prior to Barings he was with Framlington Fund Managers. Odey graduated from Christ Church, Oxford, in 1980 with a degree in history & economics.

Track record

Crispin Odey has 18.7 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.15%. During the worst period of relative performance (from August 2009 - November 2019) there was a decline of 50% relative to the index. The worst absolute loss has been 26%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 91%.

Periods of worst performance

Absolute -26.00% (May 2008 - February 2009)
Relative -50.00% (August 2009 - November 2019)

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

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Key Investor Information

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