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Kames High Yield Bond

Ranked 13 out of 14 in - Sterling High Yield over 12 months
All calculations are in GBP unless stated

Managed by

Claire McGuckin

Claire McGuckin is an investment manager in the fixed income team at Kames Capital. As a high yield bond specialist, Claire’s role includes recommending credits for pure high yield funds and other funds that allocate to the asset class. She joined Kames Capital in 2012 from L&G Investment Management (LGIM), where she was a portfolio manager. Prior to LGIM, Claire was an analyst at Fidelity and a credit researcher at ABN Amro’s investment banking division. She graduated from University College of North Wales – Bangor in Banking, Insurance and Finance.

Philip Milburn

Philip Milburn has spent the entirety of his financial career at Kames Capital (formerly AEGON). He constructs a portfolio of between 40 and 60 holdings for his Kames High Yield Bond fund and invests in bonds and only bonds for the High Yield Bond fund. Earlier in his career Milburn spent a year on secondment to Latin American equities and worked as Global Telecoms Coordinator at the group. Born in Nottingham in 1974, Milburn holds a first class masters degree in economics from Edinburgh University. He is a keen sportsman who enjoys squash, 5-a-side football and skiing.


The primary investment objective is to maximise total return (income plus capital) by investing in a portfolio of predominately high yield bonds, selected investment grade bonds and cash. The fund may hold sterling and other currency denominated bonds hedged back to sterling. The fund may also invest in deposits, money market instruments, derivative instruments and forward transactions.

Showing fund performance in United Kingdom View performance globally


Sterling High Yield over : 30/04/2015 - 30/04/2016
  • Rank 13/14 Total Return
  • Rank 12/14 Standard Deviation
  • Rank 12/14 Max Drawdown
Fund Name Currency Return
10 Dimensional Global Ultra Short Fixed Inc GBP Acc GBP


11 M&G Global High Yield Bond Sterling X Inc GBP


11 Capital International High Income plc GBP


13 Kames High Yield Bond Acc B

Currency exposure is hedged

Currency exposure is hedged



14 Marks & Spencer High Income GBP


Fund Name Currency Risk
10 Threadneedle High Yield Bond Ret Net Inc GBX GBP


11 Standard Life Inv Higher Income Ret Acc GBP


12 Kames High Yield Bond Acc B

Currency exposure is hedged

Currency exposure is hedged



13 M&G Global High Yield Bond Sterling X Inc GBP


14 Baillie Gifford High Yield Bond A Inc GBP


Fund Name Currency Loss
10 Threadneedle High Yield Bond Ret Net Inc GBX GBP


11 Marks & Spencer High Income GBP


12 Kames High Yield Bond Acc B

Currency exposure is hedged

Currency exposure is hedged



13 Baillie Gifford High Yield Bond A Inc GBP


14 M&G Global High Yield Bond Sterling X Inc GBP


Total Return

Quarterly Performance

to 31/03/2016 Annual Q1 Q2 Q3 Q4
2016 1.0%
2015 -0.6% 2.4% -0.1% -4.6% 1.8%
2014 5.2% 3.4% 2.3% -2.0% 1.4%
2013 6.9% 1.8% -1.1% 2.7% 3.4%
2012 19.6% 7.9% 1.0% 5.4% 4.2%
2011 3.5% 4.7% 0.8% -6.1% 4.4%
2010 18.0% 7.6% -0.9% 7.8% 2.6%
2009 62.1% 2.2% 24.9% 21.0% 4.9%
2008 -27.1% -4.4% 4.2% -7.8% -20.6%
2007 0.8% 2.5% 1.5% -1.5% -1.7%
2006 7.8% 2.5% -0.4% 3.0% 2.6%
2005 10.1% 1.3% 2.9% 3.0% 2.5%
2004 13.3% 2.9% -0.5% 5.6% 4.9%
2003 21.1% 4.3% 7.8% 3.2% 4.4%
2002 -1.0% -7.5% 0.9%

Month by Month Performance

Returns Vs Risk

Registered For Sale In

  1. Germany
  2. United Kingdom

Fund Info

  • Launch date22/03/2002
  • Share Class size1,407Mn
  • Base currencyGBP
  • ISIN GB0031425563
  • Currency exposure is hedged

Purchase Info

  • Min. initial investment2Mn
  • Min. regular additional investment10,000


  • Annual management0.75%
  • Initial investment0

Related News

Kames High Yield Bond

Milburn gets co-manager as Kames reshuffles high yield line-up

investment manager Claire McGuckin has been promoted to co-manager among a series of changes

Kames' Milburn: value in high yield bond market has finally returned

After the violent sell-off last month, spreads are back in line with the cycle average and yields of 6.7% now look 'reasonable', according to Kames bond manager Philip Milburn.  

Kames give Milburn co-manager on High Yield Global Bond fund

Kames Capital has named Claire McGuckin as co-manager of its High Yield Global Bond fund alongside Phil Milburn.

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Milburn: Good news stops here for high yield

Kames' High Yield Bond star Philip Millburn speaks exclusively to Citywire Selection about why the days of stellar returns are numbered.

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Performance is for the period shown (month end to month end, bid/bid, gross income reinvested, calculated in the currency and currencies indicated).