Quilter Investors has dropped Jupiter and appointed Premier Miton to run two bond funds following the move by Lloyd Harris and his team to the boutique firm.
Harris has been at Premier Miton since August after he was shunned by Jupiter in its acquisition of Merian Global Investors. The Merian Corporate Bond fund, which Harris had managed with Simon Prior, was handed to Harry Richards and Adam Darling, while Luca Evangelisti took on the Merian Financial Contingent Capital fund, also previously managed by Harris along with Rob James.
While at Merian, Harris had run the £209m Quilter Investors Corporate Bond and the £119m Quilter Investors Diversified Bond funds. Those were handed to the Jupiter corporate bond team after his departure, but now Quilter Investors has announced it is following Harris and his team to Premier Miton.
Quilter Investors said in a press release that the move was the result of “extensive due diligence”. The sub-advised funds are mostly used in the Old Mutual Wealth Select managed portfolio service and in Quilter Investors’ multi-asset solutions.
Harris had managed the portfolios since launch in June 2018, which followed the £583m management buyout of Merian, or Old Mutual Global Investors as it was then known, from Old Mutual, as Quilter was then known.
Quilter Investors portfolio manager Stuart Clark said he has always been impressed with Harris’s portfolio management abilities. “We have confidence in the team and in the infrastructure of the business to provide quality solutions to help with our portfolio construction.”
Harris said he was looking forward to working with the Quilter Investors team again. “Uncertainty remains a major feature in the markets, despite the relative calm of the past few months, underlining that careful and thoughtful portfolio management is key to generating good outcomes for clients.”
In September, Premier Miton unveiled the Premier Miton Strategic Monthly Income Bond and Premier Miton Financials Capital Securities funds for Harris and his team.
Harris is joined by former Merian team members Simon Prior and Przemyslaw Pietraszek at Premier Miton, as well as Rob James.
Earlier this month, Portfolio Adviser revealed Aegon had axed a small mirror version of the Merian Monthly Income fund months after lead manager Lloyd Harris and his team jumped ship for Premier Miton.
