Lazard Asset Management and Matrix Group partner to launch Opportunities Fund

Date: Thursday, June 17, 2010
Author: Hedgetracker.com

Multi-strategy asset manager Matrix Group has launched the Matrix Lazard Opportunities Fund, its second UCITS III fund. According to Matrix, the new UCITS fund will invest using convertible arbitrage and special situations/event-driven strategies. Lazard Asset Management has been named the fund’s sub Investment Manager and Sean Reynolds, who heads the Lazard Asset Management team, is the Senior Portfolio Manager of the new fund. “The investment team believes that the recent stock market sell-off has dramatically increased the strategy’s opportunity,” commented Mr. Reynolds, “especially in shorter dated credit securities offering attractive equity exposure.”

In comparison with traditional bond funds, Mr. Reynolds emphasized the new UCITS fund’s broader range of investment opportunities, including credit derivatives, equities and convertibles, and the opportunity for both long and short investments with derivatives. “The Matrix Lazard Opportunities Fund provides a unique vehicle for investors seeking an on-shore regulated fund that uses our convertible arbitrage and special situations, event-driven investment approach,” stated Mr. Reynolds.

Lazard Asset Management is an international investment manager and a subsidiary of Lazard Freres & Co. Matrix Group was founded in 1987 by current Chairman David Royds. Last month, Matrix launched its first UCITS III fund, the Matrix Asia UCITS Fund. The Matrix Lazard Opportunities Fund is partially modeled on the Lazard Rathmore Fund, which is also managed by the Lazard Asset Management team. “The UCITS Fund will now make Sean’s investment expertise accessible to a much broader investor base,” stated Chris Merry, Matrix Group’s CEO.