The Matrix Strategic Opportunities fund is being launched to capitalise on the opportunities within credit markets, notably within distressed debt, high yield bonds, corporate loans and the restructuring process in bankruptcies.

The fund will target a 15 per cent to 20 per cent annualised return and has the flexibility to hold cash until the timing is right to invest in underlying hedge funds.

The Matrix New Horizon fund will be a highly diversified multi strategy fund of funds looking to exploit the dislocations within the macro, credit and market neutral environment.

'As we enter 2009, with prospects for continued equity volatility and low yields on sovereign debt, alternative managers are looking to exploit the current extreme market dislocations via macro and credit opportunities,' says Bridget Guerin (photo), a director of Matrix Group.

'These opportunities are made more attractive since competition for trading has been dramatically reduced, following the reduction in the investment banking industry and the closure of many hedge funds, whilst leverage is no-longer available nor necessary to generate returns.

'As an innovative asset management house, it is important that we are positioned to capitalise on these potential 'once in a lifetime' investment opportunities whilst also being mindful of possible landmines. We have seen, and continue to see, a Darwinian process taking place within the asset management industry that will prove a force for better manager selection, leading to greater transparency, accountability and more robust risk management procedures.'