Crispin Odey has closed his flagship European hedge fund to new investments after scoring big wins from shorting the pound in the lead-up to the UK's catastrophic mini-budget and betting on coal companies.

Clients were notified on 26 October that Odey European had been soft-closed, along with the OEI Mac and Odey Swan funds to "protect the interests of our existing investors... and to provide the best opportunities for fund performance in the future", according to an investor letter seen by Financial News and confirmed by a source close to the business.