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Alternative Market Briefing

Matrix Money Management launches second UCITS III fund

Thursday, June 10, 2010

From Precy Dumlao, Opalesque Asia:

London-registered Matrix Money Management Ltd (MMM), one of the largest asset managers in the UK with more than GBP3bn in AuM, has announced the launch of its second UCITS III fund, the Matrix Lazard Opportunities Fund. The new fund offers greater investment scope than traditional bond funds, says the firm.

In a statement, MMM said that it has appointed Lazard Asset Management as sub investment manager for the fund. Lazard is headed by Sean Reynolds.

"The fund's strategy seeks to generate returns through two sub-strategies: convertible arbitrage and special situations/event driven investing. The strategy aims to take advantage of situations where the team believes a security's price diverges from its expected value and aims to provide superior risk-adjusted returns when compared to broad equity and credit benchmarks," a statement said.

The new fund allows investing across a broader range of instruments, including bonds, convertibles, equities and credit derivatives. It can also go both long and short via derivatives. Reynolds said: "Matrix Group has developed a strong reputation for distributing absolute return focused products into the UK retail marketplace. The Matrix Lazard Opportunities Fund provides a unique vehicle for investors seeking an on-shore regulated fund that uses our convertible arbitrage and special situations, event-driven investment approach......................

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