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Odey Asset Management profit plunged 52% before gilt chaos bet

The hedge fund posted income of £35.9m, down from £56.6m, but was able to bounce back late last year

Founded by billionaire Tory Party donor Crispin Odey, Odey Asset Management had a controversial 2022 after betting against the pound and UK government bonds while having ties to the then-chancellor
Founded by billionaire Tory Party donor Crispin Odey, Odey Asset Management had a controversial 2022 after betting against the pound and UK government bonds while having ties to the then-chancellor Photo: Getty Images

Profit at Odey Asset Management tanked 52% before the high-profile hedge fund cashed in on bets against UK government bonds and the pound late last year.

Odey Asset Management, run by billionaire Conservative Party donor Crispin Odey, saw profit slump to £18.8m for the 12 months to 5 April 2022, according to its latest financial results, down from £39.6m.

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