McVeigh leaves Schroders UK to set up new group

Schroder UK equity income manager Ian McVeigh has left 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, have 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