Matrix feeder funds invest in Fortis

Matrix has launched two funds of hedge funds which are feeder funds from multi-manager portfolios run by Fortis and Tremont.

Matrix's Horizon Fund invests in the sterling-hedged share class of Fortis Investment Fund, whose dollar shares generated 6.55% during 2002, according to the group.

The Horizon shares Matrix's fund uses returned 0.89% net of fees during December.

The underlying Fortis fund is widely diversified, investing in around 35 underlying portfolios.

Bridget Cleverly, Matrix Money Manag

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