Kames High Yield Bond and Kames High Yield Global Bond - Neutral

FUND RESEARCH UPDATE: Morningstar Analyst Ratings moved to Neutral

Ashis Dash 24 June, 2016 | 7:04AM
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Following a recent Morningstar Analyst Ratings Meeting, we have moved the Kames High Yield Bond and Kames High Yield Global Bond funds to a Morningstar Analyst Rating™ of Neutral. Both funds previously held a Silver rating before being placed Under Review in early June 2016 following the news that co-manager, Claire McGuckin, had left Kames. Simultaneously, Kames announced that David Ennett will be joining from Standard Life Investments in September 2016 to head the firm’s high yield team and co-manage the funds. Meanwhile, manager Philip Milburn is also expected to return in in Q3 2016 after a leave of absence, due to health reasons, and resume duties gradually. In the interim, Kames’ fixed income CIO, David Roberts, will be running the fund backed by its support manager Stephen Baines. While we believe Milburn’s return and Ennett’s addition is reassuring, we need to assess how the two work together and will be meeting them once they have settled into their roles. Meanwhile, our conviction here is best reflected by our Neutral rating.

See the latest Morningstar fund rating news here.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Aegon High Yield Global Bd A Inc USD10.27 USD0.05Rating

About Author

Ashis Dash  is a Morningstar Fund Analyst

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