Former Schroder UK equity income manager Ian McVeigh is well advanced in his plans to set up a hedge...
Former Schroder UK equity income manager Ian McVeigh is well advanced in his plans to set up a hedge fund group, aiming to launch a global macro fund this spring.
McVeigh, along with Nick Carn, former head of asset allocation at Alliance Capital, has applied for regulatory approval of their firm, Parkway. Once received the two will launch the global macro fund, aimed at institutional and private investors, with Carn handling the macro approach and McVeigh on stock selection. Parkway is expected to soft close the fund at $250m.
At Schroders McVeigh was responsible for the management of the Schroder UK Income and UK Active Value funds and two investment trusts, the Schroder Income Growth and the recently-launched Schroder Split.
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