Fixed income veteran David Roberts will retire from fund management after 34 years in the industry.
Liontrust’s global fixed income boss (pictured) will leave the FTSE 250 fund group in August, transferring leadership of the team to his long-time righthand man Phil Milburn and co-manager Donald Phillips.
Roberts and Milburn joined Liontrust from Kames Capital in 2018 and, together with Phillips, created its £809m global fixed income franchise. The pair’s hire was described as one of Liontrust’s savviest acquisitions and a major blow to Kames, now Aegon Asset Management.
At Liontrust, the trio manages four strategies, including the UK-domiciled £329m Liontrust Strategic Bond fund.
Roberts said: “I have had a fantastic career and feel privileged to have been able to invest in fixed income markets for so many years on behalf of clients. This is a good time for me to retire and for Phil and Donald to take advantage of the investment opportunities ahead without me.
“We have been through a period in which central banks have impacted fixed income markets to an extent that has never been seen before. But now we are entering a new cycle in which yields are rising and there is greater value in bond markets.”
Liontrust chief executive John Ions thanked Roberts for his contribution to the business and “being a careful and dedicated custodian of investors’ money, not just at Liontrust but throughout his career”.
“David has been one of the leading bond fund managers for the past couple of decades and we wish him all the very best for his retirement,” he added.
