There have recently been some changes to the team responsible for managing the Kames Investment Grade Bond fund.
Stephen Snowden, who managed the fund alongside Euan McNeil from September 2011, has left the company. Grace Le has been promoted to co-manage the fund alongside McNeil.
We think the loss of Stephen Snowden is disappointing for investors in the fund. He was an experienced and successful bond fund manager who we held in high regard.
Some other team members have left at the same time as Snowden, 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.
Euan McNeil is an experienced bond fund manager. He’s not planning 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 McNeil and Le 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.