Crispin Odey's flagship fund falls 18% in April

The Odey Swan fund, a UCITS version of the manager's flagship long/short European hedge fund, lost 17.7% of its value in the month, according to FE. A reversal in the fortunes of the Australian dollar has been blamed for the slump: Odey's bearish view on the global economy is expressed in part by a leveraged short AUD/long USD trade, in the belief that falling commodity prices would hurt the Australian economy. The Australian dollar has weakened significantly this year, partly due to domestic weakness and partly because of the soaring US dollar, and the trade helped the fund post a 3....