Hedge Funds

Odey call proves timely as China continues to devalue

Yuan devaluation came just days after well-known hedge fund manager Crispin Odey wrote in latest investor note that such a move was essential

Odey call proves timely as China continues to devalue

Renowned hedge fund investor Crispin Odey had to wait just days to see his call for a currency devaluation in China heeded.

In his latest letter to investors, seen by Financial News, for the $2.7 billion Odey European strategy - which covers performance for the month of July - Odey wrote that China "must devalue", adding that the country's economy "continues to slow down whilst monetary policy tightens".

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