David Ennett is to leave Standard Life Investments and join Kames Capital as head of high yield, as current division head Phil Milburn’s (pictured) leave of absence for ill health is extended.
It was announced in September last year that Milburn would be taking some time off to recover from post viral fatigue syndrome, and would hand over the running of his £1.4 billion (€1.81 billion) High Yield Bond and £315 million Global High Yield Bond funds to co-manager Claire McGuckin on an interim basis.
However, McGuckin has now left the business, and Milburn’s leave has been extended to Q3 this year at least. David Roberts, head of fixed income at the firm, will assume the funds’ reins until Ennett’s September 2016 start date.
At SLI, Ennett was head of European high yield, and manager of the firm’s Higher Income and European High Yield funds. Prior to joining the firm in 2010, he spent two years as deputy manager of Old Mutual Asset Management’s Dynamic Bond Fund.
A spokesperson for SLI said Fraser Duff, an investment director in the firm’s global credit team, will replace Ennett as lead manager on the Higher Income fund.
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