Matrix has launched an absolute return bond fund to be managed by Lazard Asset Management.
The Matrix Lazard Opportunities fund is run by Matrix Money Management, which has appointed Lazard as its sub-investment manager.
Lazard's six-strong team, headed by senior portfolio manager Sean Reynolds, aims to achieve absolute returns through a combination of capital appreciation and income. The fund's strategy seeks to generate returns through two sub-strategies: convertible arbitrage and special situations/event driven investing.
The fund can invest across a broad range of securities including bonds, convertibles, equities and credit derivatives and can go both long and short.
It is the second Ucits III fund Matrix has launched and follows the May unveiling of Matrix Asia - a pan-Asian long/short equity strategy managed by Rupert Foster.
The Matrix Lazard Opportunities fund has a minimum investment of £25,000, a 2% annual management charge and a 20% performance fee.
"Matrix Group has developed a strong reputation for distributing absolute return focused products into the UK retail marketplace," Reynolds says.
"The Matrix Lazard Opportunities fund provides a unique vehicle for investors seeking an onshore regulated fund that uses our convertible arbitrage and special situations, event driven investment approach.
"The investment team believes that the recent stock market sell-off has dramatically increased the strategy's opportunity, especially in shorter dated credit securities offering attractive equity exposure."
