CityWire.co.uk – Matrix’ marketing material continues to state the objective of the Bastion fund is to ‘generate consistent returns over the medium term with low correlation to major stock and fixed income market indices with a low degree of risk.’
Matrix said: ‘This expectation regarding the degree of risk was based upon historical conditions in the financial markets as well as conditions that were believed may exist in the future. We believe at the relevant time this was a reasonable expectation.’
It added that its marketing literature stated that: ‘investors may incur substantial losses on their investments in the fund or lose their entire investment.’
