|British asset manager Matrix Group has announced the launch of its first UCITS III Fund. Managed by Rupert Foster, the Matrix Asia UCITS Fund will invest in nations such as China, Japan, India, Korea, and Singapore. The Matrix Group’s new fund aims to use its long/short strategy “to reduce risk by targeting a lower level of volatility.”|
Rupert Foster has 16 years of experience managing long/short Asia funds; he also currently manages the Matrix Asia hedge fund, whose investment objective parallels that of the new fund. The Matrix Asia Fund has outperformed the MSCI Asia Pacific Index by 53% since inception in 2008.
Mr. Foster commented on the new fund launch: “Having a long/short pan-Asian investment remit is very important to me as it gives me the ultimate tool kit to deliver outperformance for my clients.… I expect my current portfolio positioning of shorting China and being long Japan to remain until some time in the fourth quarter of this year when I expect to rotate back to being long China and short Japan. Over an investment cycle, I expect to add a third of the performance from my short book.”He went on to talk about how he believes that Asian markets will emerge from the recession in a stronger position than other regions, and aims to capture this source of growth.
The Matrix Group has launched a number of new hedge fund offerings recently including the Matrix-PVE Global Credit Fund with Gennaro Pucci’s PVE Capital LLP and the Matrix Redux hedge fund with Caxton Associates veteran Sudeep Singh’s Redux Research Ltd. They have also been hiring a number of hedge fund industry veterans, as was announced in last week’s Hedge Fund Job Report.