Odey Asset Management to lift suspension of Brook Developed Markets Fund

(Corrects apostrophe in paragraph 5, adds “application” to second paragraph to say “it will accept applications for subscription”)

LONDON (Reuters) -Odey Asset Management (OAM) will lift the suspension of its Brook Developed Markets Fund, it said in a letter to investors on Tuesday.

OAM said it will accept applications for subscription, conversion or redemption of shares no later than 2pm on July 7, which will be processed by July 10.

The fund manager’s board took the decision in June to gate the Brook Developed Markets Fund after it faced redemption requests in excess of 10% of the net asset value.

Several of the investment managers funds were frozen in June after sexual misconduct allegations against its founder, Crispin Odey.

Odey has denied the allegations.

(Reporting by Nell MackenzieEditing by David Goodman)