Geikie-Cobb exits Charles Stanley as fund shuts

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Geikie-Cobb exits Charles Stanley as fund shuts

Charles Stanley has closed the Matterley Bond Opportunities fund just months after it launched, with the product’s two managers leaving the business as a result.

The decision to close the £4m fund, which launched in May 2015, has seen managers Peter Geikie-Cobb and Jeremy Palliser leave the business.

Mr Geikie-Cobb, a former Thames River and F&C manager, joined Charles Stanley at the start of 2015 to run Matterley, its fund management business.

A Charles Stanley spokesperson said the closure came as the company looked to focus on products linked more closely to its core activities, such as business with financial advisers and private clients.

“As part of Charles Stanley’s strategic review aimed at streamlining the business and focusing on core activities, a decision has been taken to rationalise its range of investment funds,” she said.

“This will involve focusing on a narrower range of products which are more closely linked to its core activities, namely private clients, financial advisers, the Court of Protection and smaller pension schemes.”

Over the past six months the fund had shed 1.6 per cent, compared to the 3.9 per cent return from its peer group, the Investment Association (IA) Global Bonds sector.