Milburn, co-manager on Kames’ £1.5bn High Yield, $427m High Yield Global Bond, £665m Strategic Bond funds and $1.1bn Strategic Global Bond funds, has been away from work since September having been advised by doctors to take a complete break from his duties in order to recover.
The initial suggestion was that he would return to work early this year.
A spokesperson for Kames said: “I am pleased to inform you that Phil is making steady progress and he is understandably keen to resume his responsibilities at Kames.
“Under his current pace of improvement, we expect Phil to return to work (which will be conducted on a phased basis) during the second half of 2016. On his return, Phil will concentrate on fund management and analysis.”
In Milburn’s absence, Claire McGuckin runs the High Yield Bond and High Yield Global Bond funds with support from Stephen Baines. David Roberts and Colin Finlayson look after the Strategic Bond and Strategic Global Bond funds.