Matrix closes array of UCITS funds

Matrix Group is closing both its UCITS platform and its Asia sub-fund later this year.

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 offshore UCITS platform, which was launched in May 2010, had four Ucits sub-funds with over $230m of assets including the Asia fund, the Matrix Lazard Opportunities fund, the Cantab Quantitative UCITS fund and Matrix New Europe UCITS fund.  The latter closed in May and the Cantab fund, which was previously hosted on the Matrix platform, was moved to Cantab last month. "Despite strong asset-raising for the sub-funds on the Matrix Ucit...