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Former Odey Asset Management (OAM) portfolio manager James Hanbury has said in a letter to investors that passive and systematic trading strategies have grown so much that those trading on company fundamentals might be hurt. The Lancaster Absolute Return Fund, which Hanbury runs with ex-Odey colleague Jamie Grimston, returned 2.9% for the month of March and was up 1.4% for the year to March 31, said the letter seen by Reuters on Thursday. The Lancaster Absolute Return Fund oversees 646 million pounds ($813 million) in investments.