A hedge fund manager at Odey Asset Management has left after six years to strike out on his own with a new diversified growth fund that will spin out of Crispin Odey's company in November.

Freddie Lait, who worked at Goldman Sachs and Rothschild before joining Odey in July 2010, has left the firm, where he was a fund manager, and set up a new firm called Latitude Investment Management, according to an October 6 statement from Latitude, which has also announced the launch of its maiden fund.