CityWire – Investors trapped for three years in a Matrix hedge fund, which was advertised as having a ‘low degree of risk’, could face a further three-year wait to liquidate positions.
The Matrix Asset Based 2 fund is domiciled in Bermuda, listed on the Irish Stock Exchange and invested in a fund of hedge funds managed by Stillwater Capital Partners. The 2.5 times geared fund was caught out by the credit crunch when the asset-backed loan markets froze and it has been suspended since the fourth quarter of 2008.
