Baines joins as a fixed income manager following a spell at Oriel Asset Management, where he worked alongside founder David Urch on its flagship fund – the Oriel Absolute Return Fund – and on the TB OAM UK Equity Market Fund.
Prior to Oriel, Baines worked at Baillie Gifford and Babson Capital Europe. A spokesperson for Oriel said it had not replaced Baines.
Meanwhile, another recent recruit for Kames, Claire McGuckin will join Phil Milburn in managing the company’s High Yield Bond Fund. She became co-manager of the offshore High Yield Global Bond Fund back in June.
She replaces Melanie Mitchell who is staying with the firm but will return to managing investment grade portfolios following a number of institutional mandate wins for Kames in this area.
Kames’ head of high yield Phil Milburn, said: “I would like to congratulate McGuckin on promotion to co-manager with me on Kames High Yield and thank Mitchell for her valuable contribution in making the high yield team the success it is today.
“When she joined me in 2009 as support manager on the fund it was just the two of us, whereas now we have a strong team of four responsible for £2bn.”
Milburn’s High Yield Fund is ranked first quartile over three, five and ten years, but over one year it has dropped to fourth quartile.
Its one-year record versus the benchmark is shown in the graph below.
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