Ignoring climate risk helps Crispin Odey hedge fund jump 30%
Odey Asset Management profits from buying energy stocks shunned by investors averse to climate risk
Odey Asset Management’s hedge fund has surged more than 30% in the first two months of 2022, thanks to a rebound in energy stocks that many pension funds and endowments are now refusing to hold.
The firm’s founder Crispin Odey says the latest rally means the fund has more than doubled over the past 12 months. Odey AM, which manages $4.7 billion, owns the shares of Jadestone Energy, a Singapore-headquartered oil and gas producer; Equinor, a Norwegian refinery and energy supplier; Aker BP, an oil
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