Fund manager Oliver Kelton is leaving boutique firm Waverton Investment Management to join hedge fund manager Crispin Odey’s firm, Odey Asset Management.
He will take his €1.5 billion Morningstar 5-star rated Waverton European Fund with him, increasing Odey AM’s funds under management to nearly €15 billion in total.
The Waverton European Fund A (Eur) has returned 125.80% (net of fees) over the past three years, compared to a 61.62% return from the index. Its standardised performance in the year ending February 28, 2015 was 17.92%, according to Morningstar data.
Crispin Odey says the appointment will strengthen the debate on Europe, at a time when good stock picking could mean the difference between profit and loss for clients.
Odey adds that Kelton, who ends fourteen years of employment at Waverton, shares a belief in the value that active fund management can bring to clients, particularly in developed markets like Europe.
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