Matrix plans Ucits III versions of hedge funds

Matrix is planning to launch a range of Ucits III funds, the first of which is likely to be an Eastern European equity fund with a focus on Russia.

The group wants to develop a retail Ucits version of its New Europe hedge fund, which also invests in the markets of Poland, the Czech Republic, Austria, Greece and Turkey. At present it is an offshore vehicle accessible via a Sipp or to institutional investors, with a $100,000 subscription. The Matrix PVE Global Credit fund is also a possible candidate for a Ucits conversion, says chief executive Chris Merry. He expects to have made a decision on the next retail launch by the end of the month. The firm is responding to demand for hedge fund strategies within a regulated Ucits form...