Premier Miton has appointed Rob James to bolster its fixed income team after he was let go from Merian Global Investors during its takeover by Jupiter Asset Management.
The fund house announced today (August 3) it has hired Mr James as part of an expansion of its bonds team and plans to launch a fund for him to co-manage.
Mr James was previously at Merian where he was co-manager of the Merian Financials Contingent Capital fund as well as a financial sector analyst.
He was let go from Merian when Jupiter outlined its roadmap for its funds post-takeover. Although it kept the majority of Merian’s flagship strategies intact, some six fund managers were let go in the move.
Mr James is the fourth fund manager Premier Miton has swooped in on in the aftermath of the Jupiter/Merian deal, already hiring Lloyd Harris to take the reins of its new fixed income department alongside his former colleagues Simon Prior and Przemysław Pietraszek.
He said: “This is an exciting time to join Premier Miton as it expands its fixed income team and fixed income offerings.
“l look forward to being reunited with my former investment team colleagues as well as working with new team members, and I am confident we will offer compelling and complementary additions to Premier Miton’s existing fund range.”
Premier Miton’s new fund — similar to the Financials Contingent Capital fund Mr James managed at Merian — will be co-managed by himself and Mr Harris.
Neil Birrell, chief investment officer at Premier Miton, said Mr James’s hire underlined Premier Miton’s commitment to expanding its fixed income capabilities as it sought to grow its product range and offer clients exposure through genuinely active management.
He added: “[Mr James] has a strong track record managing contingent convertible bond funds and his experience will be invaluable.”
Jupiter announced it was to acquire rival fund house Merian Global Investors in February this year for £370m, all via shares in Jupiter.
Merian shareholders will own a combined 17 per cent of the business after the takeover is completed and the five fund managers who were major shareholders in Merian will own about 1 per cent of the combined company.
Premier Miton has recently gone through its own merger. The mid-tier fund house was formed when Miton Group and Premier Asset Management agreed to merge in September last year.
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