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Matrix closes UCITS funds and Asian fund, returns money to investors

Friday, August 31, 2012

Bailey McCann, Opalesque New York: Matrix Group is closing both its UCITS platform and its Asia sub-fund later this year. According to a report in FT Adviser, the UCITS platform called Matrix UCITS Funds which was launched in May 2010, will close along with the Asia fund, an offshore long/short strategy run by manager Rupert Foster, will close on 7 September and cash will be returned to shareholders.

The UCITS funds had approximately $230m in assets under management. "Despite strong asset......................

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