Axa IM’s head of European high yield departs

Axa Investment Managers’ (Axa IM) head of European high yield Andrew Wilmont has left the group, which has handed his responsibilities to James Gledhill.

The group said he was leaving to “pursue other opportunities”.

Mr Wilmont managed the top-quartile £97.1m Global High Income fund and the £29.6m Pan European High Yield Bond fund, as well as the offshore $315.2m (£201.3m) Global High Yield Bond fund.

Last month the group announced that former New Star manager Mr Gledhill, who joined Axa from Henderson in June last year as global head of high yield, was taking over co-manager responsibilities on two of the funds.

With the departure of Mr Wilmont, Mr Gledhill will now become lead manager of the funds, with the European high yield team now reporting in to him.

Last month Axa IM announced changes to the European high yield team, alongside Mr Gledhill’s appointment as co-manager, including three internal promotions.

Julie Lamirel, currently manager of the £90.3m Sterling Credit Short Duration Bond fund, was appointed to the European high yield team, and became deputy manager of Mr Wilmont’s £29.3m Pan European High Yield Bond fund.

Nicolas Trinidade took over the management of the Sterling Credit Short Duration Bond fund from Ms Lamirel. He has been deputy portfolio manager on the fund since 2010.

The third promotion saw Sharmin Ahmad appointed as a junior portfolio manager within the European high yield team. Ms Ahmad has been at Axa for four years working on investment grade credit, focusing on real estate and private loans.