Schroders has sold all of its remaining investments in Crispin Odey’s eponymous firm, however a number of other asset managers remain invested in the company's funds.
FTAdviser understands Schroders has sold down its investments in the company, which came as the Financial Times published allegations of sexual misconduct by Odey Asset Management's founder.
A spokesperson for Schroders said: “Schroders is not invested in Odey Asset Management".
A number of other asset managers remain exposed to the company, which severed links with its founder over the weekend.
Companies such as Goldman Sachs and Morgan Stanley cut ties with the firm in the wake of the allegations, and the Financial Conduct Authority is widening an existing investigation into the firm.
A spokesperson for Odey Asset Management said for legal reasons the company cannot comment in detail on the various allegations, which are being looked into by its lawyers, but it treats all such allegations "extremely seriously".
"We do not recognise the picture of the firm that has been painted by the Financial Times.
"We are in active discussions with all service providers and we are confident that our service providers will continue to work with us to ensure that the interests of investors are protected."
Remaining exposures
A number of companies still hold positions in funds linked to Odey.
Waverton and 7IM own funds run by Brook Asset Management, a subsidiary of Odey Asset Managment set up in late 2020.
Waverton owns Brook Absolute Return as part of their model portfolio solution.
7IM owns the same fund in their managed portfolio service and said: "We have no exposure to funds with Crispin Odey as a portfolio manager in the 7IM funds and models.
“Our only linked exposure is via Brook Asset Management, through vehicles run by different portfolio managers.”
The company said it is making no changes at this point but will continue to “review any corporate events” in line with its normally investment process.
Waverton declined to comment.
Columbia Threadneedle has exposure through its CT Multi Manager funds, which hold Brook Continental Europe, and Evelyn Partners holds Odey investments in its international managed portfolio service, which is for non-UK clients.
The Brook fund is held by three of the Columbia Threadneedle multi-manager team’s portfolios, two of which have less than 2.5 per cent exposure.
A spokesperson for Columbia Threadneedle said: “The Brook Continental European Fund is managed by Oliver Kelton - Crispin Odey is not involved in the running of this fund.
“We have been in regular contact with the group and manager, Oliver Kelton, and continue to assess the situation.”
Evelyn declined to comment.
sally.hickey@ft.com
