London-based Odey Asset Management, whose founder Crispin Odey has largely outperformed his rivals during the financial crisis, has been forced to close one of its hedge funds set up two years ago because of a lack of investment.

The firm's Tactical Advantage Fund, run by Suren Patel, was too small according to David Stewart, chief executive at Odey. The fund was incorporated in the Cayman Islands in 2006, but opened more widely to investors the following year.