Premier Miton Investors has unveiled two fixed income funds for Lloyd Harris and the team that joined from Merian Global Investors as it was being acquired by Jupiter.
The firm launched on Monday the Premier Miton Strategic Monthly Income Bond and Premier Miton Financials Capital Securities funds.
A press release said the two strategies follow the same investment approach as the Merian Monthly Income Bond fund and Merian Financials Contingent Capital fund that Harris and his team, including Simon Prior and Rob James managed at Merian Global Investors.
See also: Fourth Merian bond manager jumps ship for Premier Miton
Harris (pictured) joined Premier Miton in June as its head of fixed income, along with his team, after being shunned by Jupiter following its acquisition of Merian. At the time, Jupiter said its own managers would take on the £439.25m Merian Corporate Bond fund, managed by Harris and Prior, and the $393.75m Merian Financial Contingent Capital fund, also managed by Harris along with James.
The Premier Miton Strategic Monthly Income Bond fund will sit in the IA Sterling Strategic Bond sector and be managed by Harris and Prior. The bulk of the portfolio will be investment grade corporate bonds, but it will also include government and sub-investment grade bonds.
See also: Premier Miton cuts bond fund charges on manager Lloyd Harris’ first day
The Premier Miton Financials Capital Securities fund, managed by Harris and James, will sit in the IA Specialist sector. It will invest in a range of global capital securities issued by financial institutions and is only available to professional investors.
Harris said: “In an environment where the search for income continues, we are delighted to be launching these two new, distinctive, income generating funds.
“The Premier Miton Strategic Monthly Income Bond fund allows the investment team to use their proven experience to offer an actively managed portfolio of different types of bonds.
“The Premier Miton Financials Capital Securities fund will give professional investors access to a specialist source of income through an actively managed portfolio of debt securities, issued by carefully chosen financial institutions.”
