There have recently been some changes to the team responsible for managing the Kames High Yield Bond fund.
David Ennett and Stephen Baines have left the company. The fund is now managed by Jack Holmes and Mark Benbow.
We think the loss of David Ennett and Stephen Baines is disappointing for investors in the fund. We felt the pair would do a good job for long-term investors.
Some other team members have left at the same time, and this follows the departure of other senior members of the team last year.
Overall we don’t feel the team has the strength and depth it once did.
Jack Holmes and Mark Benbow don’t plan to change the way the fund is managed and we don’t expect any significant changes to the fund as a result of this news. We’ll aim to speak with the fund’s new managers soon though and update investors with our views.
This fund doesn’t currently feature on the Wealth 150+ list, which is where our favourite bonds funds can be found.
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