The Candela Fund, previously managed by Olympus Capital LLP has moved to Matrix Asset Management.
As part of the transition the fund has been re-named the Matrix Pan-European Equity Fund and Matrix Alternative Asset Management LLP has taken over as Investment Manager.
Portfolio Managers John Barden and Anthony McCarthy, who have managed the Fund since launch in 2000, delivering positive returns in nine out of ten years (including 2001, 2002 and 2008), remain at the helm.
The fund will continue with its investment objective to generate absolute returns whilst minimising volatility, by investing principally in liquid large to mid-cap quoted companies in the developed markets of Europe.
Since launch to 31 July 2011 the fund has returned 94.9% net of fees versus 68.3% for the DJCS Hedge Fund Long/Short Equity Euro index and 76.1% for the EuroHedge European Long/Short Euro index respectively. Furthermore, the Fund is estimated to have returned +1.5% in August whilst the MSCI AC Europe index has dropped -9.6% for the month. *
Anthony McCarthy, Co-Portfolio Manager of the Matrix Pan European Equity Fund says: “We are thrilled to be joining forces with Matrix who have considerable infrastructure, risk management and proven distribution allowing John and I to concentrate solely on running portfolios.”
Angus Woolhouse (pictured), CEO of Matrix Asset Management, says: “We have a business strategy focused on growing and developing our hedge fund range. We constantly review high quality hedge fund managers in order to assess their suitability for joining Matrix, and I am delighted to welcome John and Tony to the firm. Both are highly experienced investment professionals with a very strong 10 year track record across pan-European equities and we are excited about our ability to raise assets for this capability.”
