Anderson had only managed the fund since the start of 2011 when he joined JPM from Gartmore, where he held the role of head of credit.
The fund has had third quartile performance over one year and three years and fourth quartile over five.
Michalitsianos has worked with JPMorgan AM since 2002 running institutional mandate, but this is the first time he has been named manager in the UK Oeic space.
He is responsibe for implementing investment strategy as well as managing sterling corporate exposure across the firm’s global fixed income client portfolios.
Based in London, he reports to Lisa Coleman, head of investment grade credit, who said: “Michalitsianos is a highly skilled investor with a thorough knowledge of UK corporate credits, who will be leveraging a diligent investment process.
“In this capacity he will access the resources of a global team with six portfolio managers, 11 specialist credit analysts and two dedicated traders with extensive experience across UK and European credit markets.”