"Advanced talks" are ongoing between Odey Asset Management (Odey AM) and SW Mitchell Capital over the transfer of the Oliver Kelton and the funds he previously managed at Odey AM to the London-based European equities investment boutique, according to a report by Reuters.

The report cites a letter sent by Odey AM to clients on Tuesday and seen by Reuters as confirming that the funds in question are Brook Continental European, Brook European Focus, and Brook European Focus Absolute Return, plus Odey Pan European, which was taken over by Kelton earlier this month following the ouster of Crispin Odey from the firm following multiple allegations of sexual assault against him.

According to the letter, the funds will move subject to due diligence as well as board management and regulatory approval.