CQS, Matrix Ready UCITS Convertible Arb. Funds

Mar 22 2010 | 2:46pm ET

A pair of convertible arbitrage hedge funds is joining the UCITS III bandwagon.

CQS, the $6.7 billion London-based quantitative hedge fund, is preparing a UCITS-compliant convertible fund with the help of JPMorgan Chase. Another London firm, the Matrix Group, plans to repackage Lazard Asset Management’s Lazard Rathmore fund as a UCITS vehicle, the Financial Times reports.

CQS is awaiting regulatory approval for the JPMorgan Mansart Investments CQS Convertible Alpha fund, which it hopes to launch in April.

“We have been approached by a number of existing and new clients asking for exposure to a convertible arbitrage strategy in an UCITS III format because they are constrained by what they can investment in,” Nick Varker, senior executive responsible for product development, told the FT. But he warned that the new fund wouldn’t be able to match the offshore version of the fund because of the liquidity and risk rules that are part of the UCITS structure.

For its part, Matrix aims to bring the Lazard convertible funds to the masses. The strategy earned 58.4% last year.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of