Paul previously managed the successful Baring Global Bond Trust and Peter managed the Mercury Global Bond Trust and various offshore funds for ten years before moving to Insight as Head of Global Fixed Income.

Thames River Charlie Porter said "We are delighted to be joined by another two managers with AAA backgrounds.  As with most of our fund managers, they are from the top of the talent pool and have consistently outperformed their benchmarks and peers".

Paul Thursby said "This is a great time to be forming a new quality sovereign debt product.  Macro strategies have been neglected in favour of corporate bonds but given the shift in both Central Bank focus and geographical challenges, we expect greater divergence in the major markets and much more volatility in both interest rates and currency relationships."

Mr Thursby added: "An active and flexible approach to these conditions will allow us to access opportunities to deliver reliable returns from high quality investments at a time when traditional bond benchmarks will be a less appropriate guide to investment opportunities."

Background Note: Thames River Capital was established in August 1998 and manages US$2.3 billion with 54 staff (including 25 investment managers). Funds under management grew by 42 per cent in 2002