Cobon will work alongside Quentin Fitzsimmons on the £485.5m fund.
A spokesperson says: “Matthew Cobon joined the six-strong developed government bond and currency team at Threadneedle a year ago as fund manager specialising in currency strategy.
“As a member of the team he has been actively involved in the Absolute Return Bond fund for the last year, in particular running the FX risk. (article continues below)
“The Absolute Return Bond Fund has always employed currency strategies to complement its bond views and Matt’s specialised background in currency markets is the perfect complement to Quentin’s rates focus. His appointment to co-manager reflects this.”
Cobon joined Threadneedle in January 2011 as a fixed income fund manager, having joined from Aberdeen where he was global head of currency fund management.