Odey spin-off Latitude to launch absolute return strategy

By Julia Faurschou, FT Advisor

Odey spin-off Latitude Investment Management is to launch its first fund next month offering a long-only diversified growth strategy.

The Latitude Horizon fund will target absolute returns with low volatility and fees, according to the firm. It will be managed by Latitude founder Freddie Lait (pictured) who left Odey after six years to start the firm.

The fund, which will be spun out of Odey in November, will have management fee of 1 per cent with no performance fees.

Latitude said the portfolio will contain stocks with high quality business and will aim to reduce correlation and risk by investing in non-equity investments.

Mr Lait said: “We believe there is a significant opportunity to provide investors with an experience that combines strong performance with low volatility, low management fees and transparent reporting and charging structures.

"Latitude’s investment strategy follows an absolute return framework - the fastest growing sector in the active management industry - with the belief that diversified portfolio construction, combined with strong risk control, generates more desirable risk adjusted returns than employing leverage or shorting strategies."

Mark Carter, previously at Vinci Zafferano, has joined as Latitude’s chief operating officer and Oppenheimer’s Emma Barrat will be responsible for sales and marketing.