Odey’s agency jettisons airways: Fund supervisor sells holding in IAG after shares rebounded this year
Odey Asset Management has dumped its stakes in Ryanair and British Airways owner IAG, The Mail on Sunday can reveal.
Fund supervisor James Hanbury offered his holding in IAG – International Consolidated Airlines – after shares rebounded by greater than 8 per cent this year.
Airlines have been pummelled by the pandemic as worldwide flights floor to a halt. IAG reported final month that losses in the primary half of the year had hit €2billion.
The presentation seen by The Mail on Sunday additionally exhibits that Hanbury has been investing in Frasers Group over the previous month.
Taking off: Fund supervisor James Hanbury offered his holding in IAG – International Consolidated Airlines – after shares rebounded by greater than 8 per cent this year
It emerged final week that Frasers Group chief govt Mike Ashley will probably be stepping down from his retail empire, which owns Sports Direct, passing the baton to his son-in-law Michael Murray.
Hanbury’s funds have an funding in Oxford Nanopore, the British life sciences agency that’s set for a blockbuster flotation.
He additionally wager that shares in cinema chain AMC Entertainment – widespread with ‘armchair’ retail traders – would fall.
His funds have been hit this year when shares in electrical retailer AO World plunged by 47 per cent.
The fund group was arrange by hedge fund tycoon Crispin Odey in 1991, who stepped again from overseeing the agency final year to give attention to working his personal funds.