Odey Asset Management, the fund management firm, is launching a long/short fund concentrating on opportunities in Japanese equities.

The Odey Japan Fund will start trading on November 24 and is designed for the firm's traditional client base of discretionary fund managers, stock-brokers and private bankers. It will be managed by Alex Griffiths, who runs the existing Odey Japan and General long/short hedge fund, which has returned 37% over the year to date.