LiontrustAug 11 2017

Liontrust pounces on Kames's Roberts and Milburn

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Liontrust pounces on Kames's Roberts and Milburn

Liontrust Asset Management has hired Phil Milburn and David Roberts after the pair announced their departure from Kames yesterday (10 August).

Liontrust will launch a strategic bond fund, a high-yield bond fund, and an absolute return bond fund in 2018 when Mr Milburn and Mr Roberts join the firm.

Mr Roberts was head of fixed income at Kames while Mr Milburn was head of investment strategy for the fixed income team at the Aegon-owned company.

Between them, the pair acted as manager or co-manager on six bond funds at Kames, a combination of on and off-shore funds.

Liontrust did not run any bond funds until the acquisition last year of Alliance Trust Investments which gave it a sustainable fixed income team.

John Ions, Liontrust’s chief executive, said: “David and Phil will be an excellent addition to our existing seven fund management teams, and we look forward to promoting them to our client base in the UK and continental Europe.

“David and Phil’s investment style means their funds provide diversification away from many of the other popular fixed income funds. Another attraction for us is the fact that David and Phil have a strong investor following, particularly among intermediary clients in the UK.

“The recruitment of David and Phil will not only expand our fund management capability but also strengthen further our fixed income proposition. Their investment style complements that of our Sustainable Fixed Income team of Stuart Steven, Kenny Watson and Aitken Ross.”

As of June, Liontrust's assets under management were £9.3bn, increased 35 per cent by the acquisition of Alliance Trust Investments.

Jason Hollands, managing director for business development at Tilney, said: “The news this morning that Liontrust have recruited David Roberts and Phil Milburn is a real coup for the business.

"It represents another milestone in the build out of the Liontrust business beyond its historic equities focus following on from the recent Alliance Trust Investments acquisition.

"If it can successfully attract assets into fixed income strategies this will also help diversify its revenue base and reduce the concentration of its book in its hugely successful Economic Advantage products.

"Liontrust is without doubt a business going places with strong performance, a clear model of allowing each team to develop and own their own processes and a step by step approach to expansion."