Here, without comment is Hugh Hendry’s Letter to Investors for Q1 The Eclectica Fund – Q1 Review The Fund returned % (net). Hugh Hendry, founder and CIO of Eclectica Asset Management, have made the difficult decision to close the Fund,” Hendry said in the letter. Hugh Hendry (born March ) is the founding partner and, at various times, the chief investment officer, chief executive officer and chief portfolio manager of.

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Hugh Hendry’s Eclectica hedge fund is no more. The outspoken Glaswegian has shuttered the 15 year-old fund after it slumped letted.

For the moment, Hendry the hedge fund manager is out of action. In a letter to investors he said he’ll sit out of trading until the next downturn, but said he’s optimistic about the global economy. All will now be out of jobs, along with Hendry himself. Here’s what you didn’t know about the UK’s most colourful ecoectica fund manager.

According to this article in the Independent, Hendry was the first in his family and one of the only people at his school to go to university.

10 things you didn’t know about Hugh Hendry, whose Eclectica hedge fund just closed

He grew up close to the Gorbals, a notorious housing estate in Glasgow. Hendry studied Accounting and Economics at Strathclyde. He had intended to go into accounting because, “your ticket to the middle classes was law or accountancy.


However, in the fourth year of his four year course he realised that he had absolutely no desire to become an accountant and returned the sponsorship money he’d received from the accounting firm.

The partner warned him that he would regret it as long as he lived. InHendry claims to have been the first non-Oxbridge graduate to get a job at Edinburgh-based fund manager Baillie Gifford known for its graduate training programme. He stayed there for eight years and managed funds in the US and British teams. According to the Independenthe was ‘labelled a troublemaker.

He didn’t like it there, and again according to the Independent’spoke up’ and was fired within a month. In an interview five years agoHendry says he was pretty unemployable in London after leaving Credit Suisse: I spent a year doing this, a year doing this, whatever, and so I was a generalist.

Hugh Hendry

Luckily, however, he met hedge fund manage r Crispen Odey. Odey invited Hendry to dinner and reportedly told him: After this ‘fortuitous encounter,’ Eltter moved to Odey Asset Management inaged Despite being highly opinionated and extremely prone to expressing his lettre, Hendry seems to have feigned placidity when he was first at Odey.

When he first joined, he told The Hedge Fund Journal that he spent 12 months ‘paying his dues’, ‘keeping quiet’ and ‘soaking up what was going on.

It’s bad luck to communicate with genius,” he told Investor’s Chronicle. Hendry says their relationship moved into a ‘second phase’ characterised by the realisation that Odey wasn’t infallible and characterised by the notion that, “That is an interesting view you’re giving me, here’s what I think.


Can I tell you about the real world? He also thinks they are the political opposition. Get the latest career advice and insight from eFinancialCareers straight to your inbox.

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