Matrix is launching a fund of hedge funds that will feed into the Vega Diversified 2X Leveraged fund...
Matrix is launching a fund of hedge funds that will feed into the Vega Diversified 2X Leveraged fund.
The Matrix Generator fund, due for release in either March or April, is to be sterling-hedged and Dublin-domiciled and will feature monthly dealing.
Initial charges are set at 4% and investors must contribute a minimum of £10,000.
Structured as an offshore Oeic, the vehicle, which will be available to retail or institutional investors, will be the fourth sub-fund of the Matrix Alternative Investment Strategies fund.
The other three products in that umbrella are Matrix's Conservative Approach, Bastion and Horizon funds. The return objective of the Conservative Approach vehicle is to generate annualised returns of 10% to 12% net of all charges, while Horizon aims to get 12% to 14% and Bastion 8% to 10%.
The Generator fund will aim for higher returns, although, because of the underlying Vega funds in which it will be investing in, volatility is expected to be higher. The Vega Diversified 2X Leveraged fund is run by US firm Vega Asset Management which, at the end of August last year, had around $12bn under management.
In 2002 the fund was up 25.94%, 40.49% in 2003 and it looks likely it will have grown by 5% last year, said the group.
£300bn of liabilities
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