Matterley, the fund division of Charles Stanley, have hired Peter Geikie-Cobb as a senior fund manager in preparation for the launch of the new FP Matterley Bond Opportunities fund.
The fund is scheduled to launch in the second quarter of this year. Mr Geikie-Cobb will also be the managing director of the Matterley division and be responsible for the four funds within the division.
The new fund will have no benchmark and has a targeted total return of 6-8 per cent per year.
It will aim to achieve a total return by investing in global government bonds, corporate credit indices, currencies and will also use derivatives.
Previously at Thames River Capital, Mr Geike-Cobb joined F&C as part of its takeover of the boutique but left the group at the end of last year after he and colleague Paul Thursby announced their departure in May.
At Thames River, Mr Geikie-Cobb ran a Macro Global Bond fund with Mr Thursby.
However, the fund struggled in recent years. It was £1.6bn in size as at February 2012 but had dropped to £485m by mid-2013 after major calls on duration – the fund’s sensitivity to changes in interest rates – and a lack of exposure to emerging market debt hurt performance and led investors to sell out.