Press Releases
Matrix Re-Open the Matrix Ascension Plan for a Limited Offer
Press Release
2 June 05
Matrix is re-opening the Ascension Plan for new subscriptions following a highly successful initial launch last summer.
The returns on the Matrix Ascension Plan are linked to those from the Winton Trading Strategies Fund. The Winton Trading Strategies Fund has increased in value by 14.95% since launch in July 2004*. This fund’s strategy is the same as that of the Winton Futures Fund which, since launch in October 1997, has an annualised return of 18.95%**. As a comparison, the annualised return of the FTSE 100 Index over the same period is 1.66%.***
The Winton Futures Fund trades a portfolio of more that 100 international markets, including but not limited to futures, options and forward contracts and other derivative and financial instruments in commodities, currencies, government bonds, interest rates and equity indices. The Winton Futures Fund, and consequently the Winton Trading Strategies Fund, are largely non-correlated with traditional investments i.e. equities and bonds, and therefore investment in the Ascension Plan can provide risk diversification to an investment portfolio.
When the Ascension Plan was initially launched last year it had a 7 year term, however investors buying the new shares will benefit from the shares having just under 6 years until maturity. The Ascension Plan offers monthly liquidity through a market maker, or the comfort of capital protection at maturity, with each share having a guaranteed price of 96p if held to maturity. Other benefits include favourable tax treatment where returns will be subject to capital gains tax and can benefit from taper relief, and a low minimum investment level of £5,000.
Bridget Guerin, a director of Matrix Group, commented;
“This is one of the most interesting and innovative products that we have ever launched.When we launched it last year, several IFAs wanted to watch the early performance of the Winton Trading Strategies Fund before investing their clients’ money. Since launch through to the end of April, the Winton Trading Strategies Fund has performed extremely well and we have decided to offer IFAs a second chance to invest in the Matrix Ascension Plan. The product offers the prospect of higher returns than equities and the added benefit of lowering overall portfolio risk and it now has only 6 years to run until maturity.”
The product has a limited offer period that closes on 22nd July. The initial charge is 5% and there are no additional annual charges. The shares qualify for inclusion in PEPs and ISAs, SIPPs and SSASs, although Matrix is not providing these wrappers. The set up and running costs of the closed ended company from which the shares are issued are indemnified by the Manager, Matrix (Bermuda) Limited.
*Source: BNP Paribas, 6th July 2004 to 29th April 2005
**Source: Winton Capital Management Ltd, 1st October 1997 to 29th April 2005 applying a charging structure of a 2% p.a management fee plus a 20% performance fee.
*** Source: Reuters Hindsight, dividends reinvested, 1st October 1997 to 29th April 2005.