Odey brings in Oliver Kelton from Waverton

Mr Kelton has been at Waverton since 2001 and has been managing the €1.5bn (£1.1bn) Dublin domiciled Waverton Europen fund since April 2010.

A member of the Investment Adviser 100 Club of top-performing funds, the fund has returned 122.6 per cent in the five years to January 28 and has outperformed its benchmark, the FTSE World Europe index, across the three, five and ten year periods.

Even though he will join the Odey investment team in March, Mr Kelton will still run the Waverton fund.