INVESTEMENT house Liontrust has snapped up two leading fund managers from Edinburgh-based Kames Capital.

David Roberts and Phil Milburn, who have built up strong track records managing fixed income funds, will join Kames’ Edinburgh office in early 2018. Mr Roberts is currently head of the fixed income team at Kames, while Mr Milburn leads the investment strategy. Kames currently manages around £20.2 billion in fixed income investments, which represents 45 per cent of the total funds it has under management.

Liontrust said it will launch a strategic bond fund, high yield bond fund and absolute return bond funds further to the recruitment of Mr Roberts and Mr Milburn, subject to regulatory approval.

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Chief executive John Ions said: “David and Phil will be an excellent addition to our existing seven fund management teams, and we look forward to promoting them to our client base in the UK and Continental Europe. David and Phil’s investment style means their funds provide diversification away from many of the other popular fixed income funds. Another attraction for us is the fact that David and Phil have a strong investor following.”

Liontrust added £2.5bn to its assets under management with its £30 million acquisition of Alliance Trust Investments in a deal completed in April.