Parkway will open its global macro fund in July

Hedge fund boutique Parkway Capital, run by ex-Schroder's income manager Ian McVeigh, along with Nicholas Carn, will launch a global macro fund on 1 July. The Parkway Global Fund is aimed at capitalising on what McVeigh believes is a change in the economic cycle.

With 30-35 holdings, the fund will target 15% plus annual returns with 10% volatility, using a number of different strategies including arbitrage/ pairs, options and directional trades. Assets will be split with 30% to 80% in equities,