Crispin Odey’s Comeback Gets a Boost After Hedge Fund Surges

(Bloomberg) -- Crispin Odey, whose bearish bets led to his hedge fund suffering three successive years of losses, is firmly back on the rise.

The Odey European Inc. fund surged an estimated 10 percent in September, its best monthly gain since December 2014, according to an investor update seen by Bloomberg, as his long-running bets on Sky Plc and Randgold Resources Ltd paid off. The gains boosts his money pool’s returns for this year to about 40 percent. A spokesman for the London-based money manager declined to comment.

Crispin Odey’s Comeback Gets a Boost After Hedge Fund Surges

The gains make Odey one of the best-performing hedge fund managers in the world this year and soften the blow his investors suffered during the previous three years when the hedge fund plunged about 65 percent. Long-short money pools gained less then 1 percent this year through September, according to estimates from Eurekahedge.

Odey, a vocal critic of central bank policies, has for years predicted a markets crash and has suffered by betting on it. He benefited last month from a surge in shares of Sky Plc after Comcast Corp. won the auction for the U.K. broadcaster and and Randgold Resources after Canada’s Barrick Gold Corp. agreed to buy the gold miner.

©2018 Bloomberg L.P.