Bankrupt Matrix To Shutter Hedge Fund, Sell Fund Of Funds

Nov 7 2012 | 3:40pm ET

The Matrix Group, a British firm with both hedge fund and fund of hedge funds arms, will all but cease to be.

The firm said it would shutter its hedge fund business, Matrix Alternative Asset Management, and sell its fund of funds business as part of a liquidation. The firm will also close its investment banking unit and spin-off its real-estate unit.

Matrix Property Fund Management chairman Rob Randall blamed the collapse on the firm's advisory business.

"The administration of Matrix Group was caused by continued weakening in market conditions in the investment-banking sector," he said. "We are optimistic that the Matrix Property Fund Management business will continue to grow.

Matrix went into administration yesterday, after 35 years in business. Bermuda Global has agreed to buy the fund of funds unit.


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Nicky Hilton To Wed James Rothschild

Aug 20 2014 | 5:23am ET

When it comes to husband-material, socialite Nicky Hilton is sticking with finance...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note