Odey Asset Management has suspended withdrawals from two more funds – the Special Situations and Odey Portfolio funds – in response to mounting redemption pressure following sexual assault allegations against its founder Crispin Odey, according to reports.

Odey Asset Management (Odey AM) has suspended withdrawals from two more funds – the Special Situations and Odey Portfolio funds – in response to mounting redemption pressure following sexual assault allegations against its founder Crispin Odey, according to reports.

The moves comes as the UK’s Financial Conduct Authority (FCA) has acted to try and restore order at the embattled London-based hedge fund firm by restricting the movement of cash and assets.

A report by the Financial Times cites unnamed sources as revealing that on Monday, the FCA will publish details of voluntary restrictions agreed with Odey Asset Management and associated firm Odey Wealth Management, requiring both to "conserve cash and assets for the normal running of their businesses".

The four funds now frozen by Odey AM collectively managed  managed about $1 billion at the end of May, according to data compiled by Bloomberg. The firm has also shuttered the Odey Swan Fund with investors due to be redeemed by 4 September. 

The firm has been in turmoil since allegations of sexual assault and harassment by 13 women were made against Crispin Odey in reports by the Financial Times and Tortoise Media. Odey, who has since departed Odey AM, denies the allegations.