The manager works as part of a four-strong team, comprising the firm’s chief economist Stuart Thomson, head of rates Russ Oxley and senior portfolio manager Adam Purzitsky.
Ignis said it is not looking to make a direct replacement for Peterkin at present and that impact on running the fund should be minimal, as he is part of a larger team of eight on the rates desk.
Peterkin joined the firm in April 2011, working across all portfolios in the Glasgow-based rates team.
He previously worked at Citigroup in Sydney and prior to that, Standard Life Investments.
Over one year to the 22 November, the fund, which was launched in March 2011, has delivered 6.6% versus the benchmark’s 0.9%.