Graham Duce

“Thanks in the main to the actions of Mario Draghi and the ECB, monetary conditions have improved with the introduction of three year liquidity to squeezed banks. Along with better US economic data this has pushed the ‘risk-on’ switch firmly into the ‘on’ position. Equity markets have rebounded strongly and the UK market is up around 20 per cent since the low of the Q4 2011. With this is mind, we have sold the GLG UK Select and reinvested into the recently launched Odey Odyssey Fund. This is an absolute return minded fund that can invest in a wide range of asset classes and risk can be dialled down swiftly if the environment were to change.”