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By Bradley Gerrard | Published Aug 30, 2012

Matrix to close Ucits platform

Matrix Group is to close its Ucits platform later this year just more than two years after it launched.

The Ucits platform, called Matrix Ucits Funds, was launched in May 2010 and was built to hold four sub-funds with more than $230m (£145.1m) of assets

The platform included the Matrix Asia fund - which is set to close in September - the Matrix Lazard Opportunities fund, Cantab Quantitative Ucits fund and Matrix New Europe Ucits fund.

The Cantab fund moved off the platform and back to Cantab in July and the Matrix New Europe fund closed in May.

Shareholders in the Asia fund, which is run by Rupert Foster, will have their stake redeemed in cash next month.

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