Hedge funds make big bets against post-Brexit UK economy

Hedge funds make million-pound bets against high street as Brexit uncertainty threatens UK economy

A pair of hedge funds owned by prominent Brexit supporters have made significant bets against companies exposed to the British consumer including big high street names.

Odey Asset Management, part-owned by Crispin Odey, and Marshall Wace, part-owned by Sir Paul Marshall, have declared short positions against consumer-exposed companies, including retailers, estate agents and banks, equivalent to £149m and £572m respectively – as rising political uncertainty threatens the economy.

Related: George Soros makes £10.5m stock market bet against WH Smith

Continue reading…